vp

ISSUE – Mar. 15 | The SEC just charged Theranos founder Elizabeth Holmes and former prez Sunny Balwani with massive, “years-long fraud”

Years after it was reported that the SEC was looking into improprieties at the once high-flying  blood-testing company Theranos, its founder, Elizabeth Holmes, and the company’s former president, Ramesh “Sunny” Balwani,” have been formally charged with massive fraud by the agency. The charge, more precisely: that the two raised more than $700 million from investors through an “elaborate, years-long fraud in which they exaggerated or made false statements about the company’s technology, business, and financial performance.”  [ TechCrunch ]

ad ad