Theranos CEO Holmes and former president Balwani charged with massive fraud
Elizabeth Holmes, founder of embattled blood testing start-up Theranos, has been charged with "massive fraud," the Securities and Exchange Commission says.
The SEC alleges that Theranos raised more than $700 million from late 2013 to 2015 while deceiving investors.
Theranos says Holmes agreed to settle and pay a $500,000 fine and will be barred from serving as a director or officer of a public company for 10 years.
Liz clayman should have been writing endless articles of how she smelled a rat from day 1...too late now to claim she smelled a rate after she was outed and well after the fact this news has broken.