Theranos founder, Elizabeth Holmes is engaged. If you don’t remember who she is, let me refresh your memory. Her company claimed to have blood testing methods that would revolutionize the health care industry. Fact was, the method didn’t work….
She was once featured in Forbes as the world’s youngest female billionaire. Since the allegations arose, they’ve revised her net worth to ZERO.
In 2018, the U.S. Securities and Exchange Commission charged Theranos and Holmes with deceiving investors by “massive fraud” through false or exaggerated claims about the accuracy of her blood-testing technology; Holmes settled the charges by paying a $500,000 fine, returning shares to the company, relinquishing her voting control of Theranos, and being barred from serving as an officer or director of a public company for ten years. In June 2018, a federal grand jury indicted Holmes and former Theranos chief operating officer Ramesh Balwani on nine counts of wire fraud and two counts of conspiracy to commit wire fraud for distributing blood tests with falsified results to consumers.
The Feds are coming after her now. She is facing up to 20 years prison for wire fraud and conspiracy charges, and a fine of up to a total of $2.25 million, plus any additional restitution to victims.
Will be interesting to see how this plays out, and if she does get married, will it be from prison? I hear Orange is the new white…
*Billy Evans is the lucky guy.
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