Wonder if the 3rd party labs who actually did the blood testing are culpable for enabling the charade? Also wonder if she will continue the wearing of signature black turtlenecks when she launches her next scam or will she change her costume?

more details on Theranos

https://www.bloomberg.com/view...-used-its-blood-test

"Unlike most people who run nine-digit frauds, she never took much money out: The SEC notes that she "was paid a salary of approximately $200,000 to $390,000 per year between 2013 and 2015" and "has never sold any of her Theranos stock."

Forbes once estimated Holmes's net worth at $4.5 billion, but essentially all of that was in stock that is now probably worthless


The article discusses what fraud is from a legal view

Bad Blood: Secrets and Lies in a Silicon Valley Startup

In 2014, Theranos founder and CEO Elizabeth Holmes was widely seen as the female Steve Jobs: a brilliant Stanford dropout whose startup "unicorn" promised to revolutionize the medical industry with a machine that would make blood tests significantly faster and easier.

Backed by investors such as Larry Ellison and Tim Draper, Theranos sold shares in a fundraising round that valued the company at $9 billion, putting Holmes's worth at an estimated $4.7 billion. There was just one problem: The technology didn't work.

For years, Holmes had been misleading investors, FDA officials, and her own employees. When Carreyrou, working at The Wall Street Journal, got a tip from a former Theranos employee and started asking questions, both Carreyrou and the Journal were threatened with lawsuits.

Undaunted, the newspaper ran the first of dozens of Theranos articles in late 2015. By early 2017, the company's value was zero and Holmes faced potential legal action from the government and her investors. Here is the riveting story of the biggest corporate fraud since Enron, a disturbing cautionary tale set amid the bold promises and gold-rush frenzy of Silicon Valley.

https://www.amazon.com/Bad-Blo...Valley/dp/152473165X

quote:

Originally posted by nhtagmember:
good

there was a medical product that I looked at years ago as a possible investment opportunity

they had a hand-held device and you put a small amount of blood on a module that was inserted into the device and it was essentially a portable bedside lab that could run about a dozen different tests in about 5 minutes

I am racking my brain trying to remember what it was called - but it wasn't the one in the story

Was it the iSTAT, perhaps?

https://townhall.com/tipsheet/...preneurship-n2461176

In May 2015, Holmes reached the apex of her public legitimacy when the Obama administration promoted Holmes as one of its “Presidential Ambassadors for Global Entrepreneurship” (PAGE).

Holmes:

Today I was honored and privileged to join President Barack Obama and Secretary of Commerce, Penny Pritzker, for an event announcing the next class of their Presidential Ambassadors for Global Entrepreneurship (PAGE) Initiative. As a new PAGE member, I will work to help develop the next generation of entrepreneurs and entrepreneurial impact around the world, with a special focus on women and healthcare.

My PAGE initiative focuses on two central tenets core to my own life’s mission: empowering women in science, technology, mathematics and business, particularly healthcare, and working on breakthroughs in global health. I will spend time in Africa, Central Asia, and the Middle East mentoring and supporting young women, and will partner with the U.S. Department of State’s TechWomen program to work with the next generation of global female leaders in Silicon Valley and their home countries. I will also work with USAID’s Center for Accelerating Innovation and Impact (CII) and USAID’s Bureau for Global Health on realizing breakthroughs in global health, especially related to the containment of infectious diseases.

I have always believed that the purpose of life is to make a difference in our world and to make this world better for those around us, those in need. Leadership, to me, is about committing everything to a cause that serves people and then guiding a team of people to realize that vision all the way through.

xxxxxxxxx

Later that same year, Holmes was held up as a paragon of business and virtue by the Clintons, who hosted Holmes and Chinese businessman Jack Ma for a long discussion about “The Future of Equality and Opportunity” at their annual CGI meeting in September. (Holmes also helped to host a fundraiser for Hillary Clinton in March 2016, several months after the first allegations of her and her company's dishonest behavior surfaced.)

In spite of her settlement with the SEC, Holmes could still be prosecuted by the Justice Department if they decide to press charges against her.

quote:

Originally posted by ChicagoSigMan:
The article notes (rather obliquely) that the settlement relates to civil charges only. It is possible (and I would say likely) that the US Attorney is looking at criminal charges. With the settlement of the civil case out of the way, I would expect an indictment within months. If not, I'd be very surprised.

Sometimes I surprise myself with my own prescience and wisdom (sarcasm):

Elizabeth Holmes Surrenders to FBI to Face Federal Wire Fraud Charges

I hope the US Attorney burns both of them hot.

These kind of fuckers make it infinitely harder to get a company funded.