Founder of Theranos Charged by Fraud by SEC
Elizabeth Holmes and Ramesh Balwani have been charged by the Securities Exchange Commission for committing a massive fraud. Holmes and Balwani formerly ran the blood-testing startup Theranos. Complaints cited by the SEC allege that company exaggerated their developments for a portable health analyzer. But the SEC claims that years of elaborate fraud allowed Theranos and its principals to raise over $700 million..
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