Last year, we called it as we saw it — and now — Elizabeth Holmes is no more. The disgraced Theranos founder has been charged with major fraud in connection with her role defrauding investors in what was her rise to the top. The Daily News has learned that Theranos (while they will not declare she actually did it) will settle with Holmes and the Securities and Exchange Commission to the tune of $500,000. The SEC imposed the fines Wednesday after a year-long investigation into the claims about blood testing devices, that, Holmes had once claimed to pioneer.
During its own investigation, per the SEC, Holmes knowingly deployed hundreds of “traditional” blood testing machines to perform her tests, and then, passed it off as if they were machine tests specifically using the device by Theranos. Holmes will pay the rather small fine; lose control of the company, and will be barred from being a director of a publicly traded company of any kind for at least 10 years. Perhaps, most famously, Holmes had fabricated the story of how she had revolutionized medical technology to the point the Department of Defense deployed her technology on the battlefield.
As expected, Holmes will receive no jail time for her crimes despite the fact she misled literally everybody.
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