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Tag: Theranos Fraud

Exclusive: (“Elizabeth Holmes”)  When Fraud Meets False Hope
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Exclusive: (“Elizabeth Holmes”) When Fraud Meets False Hope

She was once largely considered Silicon Valley 's "Golden Girl", but now, Holmes could arguably be considered one of the greatest scams ever to hit the tech industry. As an entrepreneur, Elizabeth Holmes, notably once claimed that her revolutionary blood-testing devices could essentially change the landscape of medicine as mankind knew it. The 20/20 documentary: The Drop-Out comes amid a further ongoing federal investigation and ultimately Holmes' fate will be decided at a later time.  In the meantime, she has been barred from serving on any publicly traded or "general public" company for many years to come. But unfortunately for Holmes, she would go on to deceive some of Silicon Valley 's most famous names with her lies and deceit about those very devices. Holmes' as described in 20/20 ...
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Here’s the worst part of Elizabeth Holmes’ shocking fall from grace

The elaborate lie that Theranos built itself on, perhaps, is the same lie in which brought that ship crashing down.  This is where it gets interesting. Earlier this week,   we were among the first to report that the SEC charged Holmes with massive fraud and barred her from  performing duties as a director of any publicly traded company. Now there are some new twists. As we first reported, along with multiple other outlets, she must pay $500,000 in fines; lose her company, and iwll not be able to serve again as she did for at least a decade.  The move sort of drew criticism from all sides of the spectrum, considering, the depth in which her lies actually went. Holmes knowingly deceived investors;  actual patients, but most of all, patients.   Innocent patients who were hoping for ...
World News

Theranos founder, Elizabeth Holmes, charged with major fraud

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 devi...
Therano ‘s lays off 40% of its remaining staff
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Therano ‘s lays off 40% of its remaining staff

Once a world renowned company for the thought that it was created by a woman and it revolutionized the way that we have to get blood taken, er, has now fallen from grace.    According to reports, Therano 's CEO Elizabeth Holmes has reportedly laid off  40% of the company's remaining staff in a  bid to "focus on other products and bring the company back to its former reputation". Last year, Therano 's came under heavy fire for allegations that it falsified documents about its own blood ticking machines that aren't actually what they say they are. Therano 'sswiftly denied the allegations but the fall-back was almost instant. Companies including Wal Greens; CVS, and numerous others pulled Therano 's products and miniature storefronts from their stores all together.  
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