re: Theranos founder Elizabeth Holmes has been charged with criminal fraud

Obama named her Entrepreneur Ambassador. Kinda sums up his economy. A scam

FINALLY. I was beginning to think she was going to get away with just the civil charges. After reading some in-depth articles a while back, it seemed obvious to me that a massive fraud was being perpetrated, but as we're learning now, criminal investigations involving big money and complicated business schemes can take many years to finish.

The fact that she initially stocked her board of directors with connected ex-government types instead of CEOs and clinical experts made it suspicious from the start, but no one really questioned it until the grandson of board member George Shultz decided to be the whistleblower despite tremendous pressure to keep his mouth shut:

Theranos Whistleblower Shook the Company—and His Family

A few years before this all blew up, a former colleague, a VP-of-Engineering level guy interviewed with Theranos and Holmes. He is a very straitforward, no-nonsense kind of guy. He said she was "fricking nuts." I think she tried to do her hand-waving BS about the technology and he saw right through her. So I think a lot of employees decided to just stick their heads in the sand and hoped to ride out the stock option gravy train.

Elizabeth Holmes deserves to rot in prison for many years for all those fraudulent blood tests.

Theranos Has Junked Two Years of Blood Test Results

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Elizabeth Holmes deserves to rot in prison for many years for all those fraudulent blood tests



Truth.

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I wonder if this more of a bad process undertaken by this particular company, or problems with the concept of the process such that it can't ever be executed reliably

This bitch hadd all that money, she should have set herself up good somewhere with no extradition.

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Bitch was worth over a billion dollars at one point. Damn, talk about someone who “coulda been a contenda”.

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This is what I don't understand. She was young when she created this business and was able to get a lot of investors. If she was smart enough to do that, it seems like she could have actually done something legit and became successful.

I read an article in the last week about her recent activities. She has been meeting with venture capitalists and investors around Silicon Valley. She’s already cooking up another scheme.

I doubt anyone is stupid enough to actually invest any money with her. However, the main point of the article was it can’t be ruled out. She proved she’s a great con artist with Theranos. Why would anyone even meet with her? People couldn’t believe anyone would take a call from her, much less have a meeting to discuss details.

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I doubt anyone is stupid enough to actually invest any money with her. However, the main point of the article was it can’t be ruled out. She proved she’s a great con artist with Theranos. Why would anyone even meet with her? People couldn’t believe anyone would take a call from her, much less have a meeting to discuss details.

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You would think so but...

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Believe it or not, that’s not the most astonishing thing in the Elizabeth Holmes story. According to Carreyrou, Holmes is currently waltzing around Silicon Valley, meeting with investors, hoping to raise money for an entirely new start-up idea. (My mouth dropped when I heard that, too.) As the dust settles in the Theranos saga, it’s clear that the original investors in Theranos were gullible enough to hand over almost a billion dollars in funding, partially because, when it comes to Silicon Valley, there’s always a sucker hoping to get rich quick. Given that, I’m sure she will somehow succeed in convincing someone to hand over millions of dollars, especially if venture capitalists like Tim Draper (an early Theranos investor) are still out there saying the stories by Carreyrou were wrong (they weren’t), and that Holmes was on the precipice of saving the world (she wasn’t) before the media came after her.

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LINK

here is Draper from a CNBC interview

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“We have taken down another great icon.”

“She got bullied into submission.”

“And look at what she did! She created an incredible opportunity.”

“Wait. Why is it worthless? It’s worthless because this writer was like a badger going after her, like a hyena going after her, and then it became a bigger and bigger thing.”

“It was a great vision, it was a great technology.”

“I think it was a great mission, and she did a great job.”

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LINK

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When I asked if she feels guilty for all the people’s lives who were affected by those lies, including the investors who lost money, the nearly 1,000 employees who lost their jobs, and the patients who were given completely inaccurate blood results, Carreyrou’s response surprised—shocked?—me. “She has shown zero sign of feeling bad, or expressing sorrow, or admitting wrongdoing, or saying sorry to the patients whose lives she endangered,” he said. He explained that in her mind, according to numerous former Theranos employees he has spoken to, Holmes believes that her entourage of employees led her astray and that the bad guy is actually John Carreyrou. “One person in particular, who left the company recently, says that she has a deeply engrained sense of martyrdom. She sees herself as sort of a Joan of Arc who is being persecuted,” he said.

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The Theranos story isn’t over just yet. While she recently settled with the S.E.C. for “massive fraud” as part of the agreement, Holmes is not required to admit wrongdoing, but she has been forced to surrender voting control of Theranos and comply with a 10-year ban from serving as director or officer at any public company (Theranos, ironically, wasn’t public.) Holmes also agreed to return 18.9 million shares of stock, once worth almost $5 billion and now worth nothing, and to pay a small $500,000 penalty. Of course, there is still a major criminal investigation underway by the F.B.I., one that could end with Holmes behind bars. But not to worry: Holmes has lots of prosecutorial quotes she can borrow from Joan of Arc if she stands trial. “I am not afraid . . . I was born to do this.”

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These frickers are delusional.

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She proved she’s a great con artist with Theranos. Why would anyone even meet with her?

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A lot of rubes think they're smart enough to ride along on somebody else's con. Sometimes they eventually figure out it's their money the con is taking.

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The investors were too fricking stupid to think it out logically or to vet the science behind it.

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They probably saw a young girl who they would never believe was trying to scam people.

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ETA...would still hit it. I don't care if she sounds like James Earl Jones.

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She is the victim. White males are the true criminals.