Silicon Valley “Prodigy” Accused Of Massive Fraud

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Elizabeth Holmes, the silicon valley prodigy who many saw as some sort of ‘wunderkind’ and ‘a new Steve Jobs’ has been accused by the SEC of having run a massive fraud at the helm of her blood-testing company Theranos Incorporated.

Knowing full well that health would be the next item on the checklist of silicon valley investors, she started the company in 2003 at the age of 19, and just as her example Steve Jobs, decided to only dress in black. She promised investors that she would take home-lab testing of a person’s health to the next level.

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">REPORT: Theranos CEO Elizabeth Holmes Has Been Charged With Massive Fraud, Holmes Held Fundraisers For Hillary Clinton And Was Also Deeply Involved With The <a href="https://twitter.com/hashtag/ClintonFoundation?src=hash&amp;ref_src=twsrc%5Etfw">#ClintonFoundation</a>.<br>More Of The Clinton Crime Syndicate Exposed🐍 <a href="https://t.co/fN8Ngshwwr">pic.twitter.com/fN8Ngshwwr</a></p>&mdash; Deplorable🤠Rāzərbak (@MediaJuggernaut) <a href="https://twitter.com/MediaJuggernaut/status/973979423685914633?ref_src=twsrc%5Etfw">March 14, 2018</a></blockquote>

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However, when the Wall Street Journal ran a series of articles last October as to how most of her tests and lab results were in fact flawed and nothing more than a well-designed ponzi scheme, the company quickly ran into trouble and this self-made billionaire took the decision to cut 45% of its workforce in one go, closing clinical labs and Theranos Wellness Centers, signalling a withdrawal from the consumer blood-testing business and laying off people in Arizona, California, and Pennsylvania.

By now, it would appear she has made a deal to withdraw totally from corporate life as the Securities and Exchange Commission said ‘Theranos company founder Ms Holmes cannot serve as an officer or director of a public company for 10 years’.

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">Stop trying to spin this.<br>Fraudster CEO Elizabeth Holmes actively campaigned for Hillary Clinton.<br>Here&#39;s a photo of Liz with Hillary&#39;s satanic daughter.<a href="https://twitter.com/hashtag/QAnon?src=hash&amp;ref_src=twsrc%5Etfw">#QAnon</a> <a href="https://t.co/fWYSp9iLsH">pic.twitter.com/fWYSp9iLsH</a></p>&mdash; John Titor (XVII) (@JohnTitusRenzi2) <a href="https://twitter.com/JohnTitusRenzi2/status/973964868419112960?ref_src=twsrc%5Etfw">March 14, 2018</a></blockquote>

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Furthermore, she must also return millions of shares to the privately held company and pay a $500,000 fine. According to the official SEC complaint Ms Holmes (as well as Theranos’ former president, Ramesh “Sunny” Balwani): “made numerous false and misleading statements in investor presentations, product demonstrations, and media articles.”

Source:

http://uk.businessinsider.com/theranos-elizabeth-holmes-sec-resolution-agreement-2018-3?r=US&IR=T