Theranos, Holmes Hit With SEC Fraud Charges

Theranos, Holmes Hit With SEC Fraud Charges

The U.S. Securities and Exchange Commission has charged one-time Silicon Valley darling Elizabeth Holmes, founder and CEO of blood testing startup Theranos; the company's former president, Ramesh “Sunny” Balwani; and Theranos itself with “massive fraud.”  According to the SEC, Theranos and Holmes have agreed to settle the fraud charges, with Holmes agreeing to pay a $500,000 penalty, give up control of Theranos, and not to serve as an officer or director of any public company for 10 years.  [3/14/18]

Search