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US Files Criminal Charges Against Theranos's Elizabeth Holmes, Ramesh Balwani (wsj.com)
John Carreyrou, reporting for WSJ: Federal prosecutors filed criminal charges against Theranos founder Elizabeth Holmes and the blood-testing company's former No. 2 executive, alleging that they defrauded investors out of hundreds of millions of dollars and also defrauded doctors and patients. The indictments of Ms. Holmes and Ramesh "Sunny" Balwani, Theranos's former president and chief operating officer who was also Ms. Holmes's boyfriend, are the culmination of a two-and-a-half-year investigation by the U.S. attorney's office in San Francisco, sparked by articles in The Wall Street Journal that raised questions about the company's technology and practices. Ms. Holmes, 34 years old, and Mr. Balwani, 53, were charged with two counts of conspiracy to commit wire fraud and nine counts of wire fraud in an indictment handed up Thursday and unsealed Friday.
Including the patients whose tests were sent to Theranos
Many here (and elsewhere, in the Real World) noted the bizarre disconnect between the treatment of Martin Shkreli (who deserved what he got, and more) and Elizabeth Holmes who was running a far vaster scheme to defraud but mysteriously seemed to escape any real personal consequences. A lot of that had to do with they way she smartly spread money around, getting a lot of movers and shakers on the board so that they could have a cut of the pie, and intercede on her behalf.
The news that she was getting funding for another scheme... err start-up... was flabbergasting. It is about time that her shenanigans caught up with her so that perhaps she will pay a real price, not just cough up (most of) her ill gotten gains.
Starships were meant to fly, Hands up and touch the sky - Nicky Minaj
The other day, Slashdot had an article that she's going around Silicon Valley raising money for whatever her new scam is. I wonder if this will dampen her prospects.
I hear that if you scam enough people and go bankrupt enough times you can become president.
SJW n. One who posts facts.