/K 15 << 68 0 obj /S /LBody << 137 0 obj 180 0 obj /Tabs /S /K 29 /Resources 432 0 R << /K 209 0 R /Pg 243 0 R << endobj >> /Lang (EN-US) endobj << The company claimed to be able to provide over 240 finger-prick blood tests, including ones that could reportedly detect cancer, according to The Wall Street Journal. << /P 292 0 R endobj After Cheung went to the federal government, Theranos hired a private detective to spy on her, according to court documents released last week. << /Parent 13 0 R /Lang (EN-US) /Lang (EN-US) When he sentenced Holmes, U.S. District Judge Edward Davila pushed to April 27 her report date to a prison in Byron, Texas, so she could give birth to her second child before being incarcerated. << /Annots [] /Lang (EN-US) << /Pg 239 0 R The startup was founded in Feb. 2014, was headquartered in Palo Alto, Calif., according to Bloomberg. What we know for certain is that behind this particular corporate failure lies a cautionary tale of boundless visioning that all investors, entrepreneurs and organizations seeking breakthrough innovations should be interested in further understanding. >> 87 0 obj /Contents [398 0 R 399 0 R 400 0 R 401 0 R 402 0 R 403 0 R 404 0 R 405 0 R 406 0 R 407 0 R] null 47 0 R null null 129 0 R null null null 130 0 R null /Lang (EN-US) If convicted, the defendants face a maximum sentence of twenty (20) years in prison, and a fine of $250,000, plus restitution, for each count of wire fraud and for each conspiracy count. /Pg 258 0 R $1 million bail: Student accused of attacking teacher's aide over Nintendo Switch, Consumer confidence: Optimism of US consumers declined in February, reflecting fears of a recession. endobj /K [354 0 R 355 0 R 356 0 R 357 0 R 358 0 R 359 0 R 360 0 R 361 0 R 362 0 R 363 0 R /K 140 0 R Palo Alto, United States August 18, 2016: Elizabeth Holmes accepts The Entrepreneur award at, the 25th Annual Glamour Women of the Year Awards on Nov. 9, 2015, in New York. >> Theranos founder Elizabeth Holmes, now a mother of two,is asking to delay her11-year sentence for felony fraud so she can be at home with her two young children while she appeals theconviction. 291 0 obj 228 0 obj 373 0 obj endobj endobj /Pg 235 0 R /Tabs /S /S /LI << 274 0 obj /K 148 0 R >> /P 50 0 R /Lang (EN-US) /P 380 0 R 49 0 obj null] endobj /Lang (DE-DE) /K 14 The FDA would like to extend our thanks to our federal law enforcement partners for sending a strong message to Theranos executives and others that these types of actions will not be tolerated, said Catherine A. Hermsen, Acting Director, FDA Office of Criminal Investigations. 2 0 obj >> /Lang (EN-US) << 83 0 obj /K 174 0 R endobj /P 349 0 R 266 0 obj /S /P /MediaBox [0 0 612 792] >> Holmes said she was inspired to start the company in response to her fear of needles. /Pg 251 0 R endobj /S /LBody >> >> >> /Lang (EN-US) Tim De Chant endobj /P 271 0 R << << /K 7 >> /P 290 0 R /S /LBody /K 0 /P 51 0 R >> << /Lang (EN-US) /S /LI 188 0 R null null null 189 0 R null null null 190 0 R null 214 0 obj << /S /LBody << 102 0 obj /S /LBody /K 6 Recalls, Market Withdrawals and Safety Alerts, Inspections, Compliance, Enforcement, and Criminal Investigations, June 15, 2018: Theranos Founder and Former Chief Operating Officer Charged in Alleged Wire Fraud Schemes. /S /LI /S /LBody /Pg 237 0 R /S /P << << >> 2018-03-14T09:02:10-07:00 /S /LBody /P 278 0 R endobj << >> /Contents [417 0 R 418 0 R 419 0 R] Follow Company. >> /Lang (EN-US) 222 0 obj /K 219 0 R >> The indictment charges each defendant with two counts of conspiracy to commit wire fraud, in violation of 18 U.S.C. /P 48 0 R /K 196 0 R << << /S /LI /K 172 0 R /P 8 0 R endobj /P 40 0 R /P 55 0 R 279 0 obj /P 59 0 R 314 0 obj /MediaBox [0 0 612 792] /S /LBody /P 8 0 R Government inspectors who arrived at Theranos in response to Cheungs letter found conditions similar to those in the complaint. 27 0 obj null null null 231 0 R null null null 232 0 R null null >> 12 [null null null 172 0 R null null null null 173 0 R null /Tabs /S /Pg 257 0 R /Contents [437 0 R 438 0 R 439 0 R] /P 309 0 R /Lang (EN-US) None of the information on this page has been provided or approved by Theranos. /K 14 /Lang (EN-US) /K 30 endobj 346 0 obj Theranos is a private health care and life sciences company with the stated mission to revolutionize medical laboratory testing through allegedly innovative methods for drawing blood, testing blood, and interpreting the resulting patient data. endobj 163 0 obj 18 0 obj << Holmes said in the recent court filing, she had planned to attend a wedding of close friends in Mexico and theticket was canceled immediately when the governmentraised the issue. << endobj /K 124 0 R 243 0 obj /Resources 444 0 R /K 131 0 R /Lang (EN-US) emblazoned in block capitals in the Theranos lobby, was 'Do or do not. 259 0 obj /S /P endobj /Annots [] << /S /LBody << /Type /Catalog Theranos CEO Elizabeth Holmes on her company and the landscape of U.S. diagnostic-lab industry. 343 0 obj /Pg 242 0 R >> The average salaries at Bloomberg rank the highest, with their employees earning an. /P 380 0 R 1 [null null 115 0 R null null null 116 0 R null null null /S /LI /Pg 235 0 R /Lang (EN-US) /P 332 0 R Both schemes involved efforts to promote Palo Alto, Calif.-based Theranos. << Learn about working at Theranos from employee reviews and detailed data on culture, salaries, demographics, management, financial, and more. 306 0 obj /P 51 0 R /Parent 13 0 R endobj The defendants nevertheless used interstate electronic wires to purchase advertisements intended to induce individuals to purchase Theranos blood tests at Walgreens stores in California and Arizona. << >> /P 359 0 R 84 0 obj /Lang (EN-US) << /Lang (EN-US) endobj >> /P 305 0 R /Lang (EN-US) Elizabeth Holmes, the infamous biotech chief executive who promised to revolutionize blood testing, has been found guilty of fraud. /P 8 0 R /Pg 258 0 R endobj >> >> Doctors began using Theranos testing devices to diagnose patients and dispense medical advice. 296 0 obj /K 173 0 R 186 0 obj /Pg 235 0 R /S /LI /Parent 12 0 R /P 48 0 R endobj << /Pg 256 0 R >> /Lang (EN-US) /S /P << >> >> endobj /P 51 0 R /Type /Page endobj : Sign up for our trending newsletter to get the latest news, This article originally appeared on USA TODAY: Ex-Theranos CEO Elizabeth Holmes has second child, seeks prison delay, American businessperson; a subject of an SEC investigation, the failed Silicon Valley startup that sought to revolutionize blood testing, Student accused of attacking teacher's aide over Nintendo Switch, Optimism of US consumers declined in February, reflecting fears of a recession, her conviction onfour counts of fraud and conspiracy, Sign up for our trending newsletter to get the latest news, Ex-Theranos CEO Elizabeth Holmes has second child, seeks prison delay, Kellyanne Conway, George Conway To Divorce After Decadeslong Marriage: Report, Reports: 3 children dead, 2 wounded in attack at Texas home, 'Extremely dangerous': Spike in illegal crossings at Canada-Vermont border has feds sounding alarm, School punished teen girl for working out in sports bra in 100-degree Texas heat, ACLU says, Republicans Use Arcane Political Tactic to Thwart Democrats, I Wore Katie Holmes Go-To Bag Trend for a Week, and I Finally Get the Appeal, Alex Murdaugh sentenced to life in prison for murders of wife and son, NBA Player Richaun Holmes Sues Sacramento Bee Parent for Defamation, Murdaugh defense vows appeal, even to Supreme Court, Alex Murdaugh sentenced to life in prison. << /P 8 0 R >> /Tabs /S /K 6 endobj /K 17 /Resources 420 0 R << << /K 6 /P 48 0 R /Resources 484 0 R /K 176 0 R 85 0 obj /Kids [11 0 R 12 0 R 13 0 R 14 0 R] /K 22 158 0 obj endobj /K 11 345 0 obj /S /P /Annots [] endobj /K 10 /CropBox [0 0 612 792] endobj /K 123 0 R endobj >> /S /P << Elizabeth Holmes blue eyes and baritone voice, her, albeit incomplete, Stanford credentials and well-crafted life narrative were the perfect exterior to a dream-come-true vision of a better future for millions of people. It became evident that audited financial statements hadn't been prepared since 2009. /S /LI >> >> /P 343 0 R >> /Lang (EN-US) /P 63 0 R endobj /MCID 2 /Lang (EN-US) /K 18 /P 48 0 R /S /LI >> Subscribe to our channelhttp. /Type /Page << /Pg 256 0 R << /S /LBody /P 8 0 R /Lang (EN-US) /Lang (EN-US) << 4 [null null 131 0 R null null null 132 0 R null null null /P 8 0 R 2023 Cond Nast. 251 0 obj /Pg 256 0 R /K 4 endobj endobj >> >> >> /K 47 /P 8 0 R In November 2022, Holmes was sentenced to 135 months in prison for defrauding investors in the failed Silicon Valley startup that sought to revolutionize blood testing. 286 0 R 287 0 R 288 0 R 289 0 R 290 0 R 291 0 R 292 0 R 293 0 R 294 0 R 295 0 R endobj >> /S /LI /CropBox [0 0 612 792] endobj 237 0 obj 367 0 obj /S /LBody /Kids [240 0 R 241 0 R 242 0 R 243 0 R 244 0 R] /MediaBox [0 0 612 792] << << endobj /Lang (EN-US) /CropBox [0 0 612 792] /S /LI << << /K 220 0 R 203 0 obj /P 380 0 R /K 14 /K 187 0 R 77 0 obj /K 21 << >> endobj /Lang (EN-US) The parable of Elizabeth Holmes and her company, Theranos, is not an unfamiliar one. 174 0 obj /S /P /S /P >> /S /LBody 395 0 obj >> << /Type /MCR /P 298 0 R /P 8 0 R /K [304 0 R 305 0 R 306 0 R 307 0 R 308 0 R 309 0 R 310 0 R 311 0 R 312 0 R 313 0 R /P 279 0 R 176 0 R null null null 177 0 R null null null 178 0 R null /K 3 /P 48 0 R endobj /S /P >> 128 0 obj /Lang (EN-US) >> While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. /Lang (EN-US) endobj endobj Former Theranos board member and former Secretary of Defense James "Mad Dog" Mattis testified last week in the criminal trial of former Theranos CEO Elizabeth Holmes. /K [28 394 0 R] /Pg 239 0 R /K 134 0 R >> 154 0 R null null null 155 0 R null null null 156 0 R null /S /P << endobj /P 48 0 R /K 14 /P 51 0 R /Lang (DE-DE) endobj << /Lang (EN-US) /Pg 241 0 R /Tabs /S << 386 0 obj endobj /P 50 0 R 272 0 obj /MediaBox [0 0 612 792] /S /LI << /S /LI << WIRED Media Group endobj >> >> The collaborative investigative work on this case conducted by Postal Inspectors, our law enforcement partners, and the United States Attorneys Office illustrates our efforts to protect both consumers and investors., The Indictment Alleges That Doctors And Patients Were Defrauded. /P 369 0 R << 76 0 obj /Pg 235 0 R Carreyous account of Safeways engagement with Theranos is powerful. << << /K 3 >> >> /K 216 0 R 181 0 obj endobj /Lang (EN-US) 369 0 obj 242 0 obj 30 0 obj /P 48 0 R /P 379 0 R /K 223 0 R /S /LI 16 0 obj 175 0 obj /K [30 396 0 R] /S /LBody /Contents [465 0 R 466 0 R 467 0 R] /Pg 254 0 R endobj /S /LBody /S /LBody 38 0 obj 393 0 obj >> << /Rotate 0 /S /LI /S /LBody /S /TR Those biases can be understood as the blindness brought about by what seems preeminently important, the righteousness generated by what sounds inherently right, the operational myopia triggered by what is situated far away from us and the sense of potency derived from endeavoring to create something new. Around the time that Theranos was losing nearly $2 million per week, investors in the blood-testing startup were being told that the company would soon be bringing in almost $1 billion per year. 123 0 R null null null 124 0 R null null] << /S /P /Rotate 0 23 [83 0 R 84 0 R 85 0 R 86 0 R 87 0 R 88 0 R 89 0 R 90 0 R 91 0 R 92 0 R >> endobj /Lang (EN-US) /Pg 252 0 R /K 2 /K [26 397 0 R] /S /P 141 0 obj null null 183 0 R null null null 184 0 R null null null /Pg 258 0 R /P 380 0 R /S /LI /Lang (EN-US) << /K 6 322 0 obj << << /S /TD /K 202 0 R /Pg 256 0 R /Lang (EN-US) >> /P 374 0 R /Lang (EN-US) endobj endobj endobj >> endobj /Pg 256 0 R << /S /P /P 8 0 R << /P 8 0 R Holmes will head to trial starting Aug. 4, and Balwani will be tried afterthe conclusion of Holmes case, Bloomberg reported. endobj >> endobj 11 0 obj /K 195 0 R endobj Adobe PDF Library 15.0; modified using iText 2.1.7 by 1T3XT endobj 335 0 obj >> /P 48 0 R /K 210 0 R Nies was hired at Theranos in March 2015 for $185,000 a year to be the senior manager of customer service and call center operations at the company's headquarters in Palo Alto, Calif., according . /K 168 0 R 110 0 obj /Pg 255 0 R >> 344 0 obj >> /P 8 0 R << >> 336 0 obj Theranos | 27,358 followers on LinkedIn. /Tabs /S And while some have observed that her behavior showed various sociopathic tendencies, the relaxed aura that cheating in the service of a larger cause may afford the average person may amp up ethical risk far more than the risk posed by sociopathic individuals. 119 0 obj >> /P 8 0 R /Pg 239 0 R << 231 0 obj /K 51 A jury will decide whether Ms. Holmes, who founded Theranos and hawked a mission of revolutionizing health care, lied to investors about her company's technology. /S /LBody /Pg 236 0 R /P 42 0 R /Lang (DE-DE) /Length 502 0 R endobj >> >> 150 0 obj /K 24 >> /Lang (EN-US) 79 0 obj endobj endobj << /P 268 0 R All rights reserved. Holmes dropped out of Stanford University at 19 to found Theranos in 2003. /S /P /S /LBody /K 142 0 R /Parent 13 0 R endobj That journey ended not, as it could have been, when the promises of its vision delivered their potential, but it ended when somebody, finally, brought reality into the picture. endobj /CropBox [0 0 612 792] >> /K 133 0 R << /S /LBody /S /P 361 0 obj endobj /K 20 >> /P 44 0 R >> /K 205 0 R 108 0 obj /S /LBody >> 91 0 obj >> /Contents [473 0 R 474 0 R 475 0 R] << /MediaBox [0 0 612 792] >> 185 0 R null null] [2] This was done through a medical device called a nanotainer, which drew, retained, and analyzed mere droplets of blood from the patient's fingertip and . /S /LBody /Pg 235 0 R >> /Lang (EN-US) >> << Prosecutors Call Theranos Ex-CEO Elizabeth Holmes A Liar And A Cheat As Trial Opens Defense lawyers say Holmes believed the company could screen for hundreds of diseases with just a finger prick . /Pg 235 0 R /S /LI endobj endobj /P 276 0 R /K 45 Palantir has . /K 0 /Pages 5 0 R 286 0 obj It included jury selection, opening statements, released text messages, and an unexpected . /K 203 0 R A March 17 hearing is scheduled on her request to stay out of prison during her appeal. /S /LI /Lang (EN-US) /S /LI /Pg 250 0 R /P 8 0 R << We searched far and wide for the best company mission statement examples. 317 0 obj null null 152 0 R null null] /K 261 0 R 43 0 obj /P 352 0 R 378 0 obj "I was taken with the idea . /MCID 2 /S /Span /K 198 0 R << /P 8 0 R Theranos is in the biotechnology industry. /P 8 0 R 23 0 obj 54 0 obj /S /LI /P 8 0 R endobj /S /LI >> 332 0 obj >> << The . 311 0 obj /K [26 395 0 R] /K [32 382 0 R] Best Companies to Work for in Palo Alto, CA, Best Start-up Companies to Work For in America, Best Health Care Companies to Work For in California, Best Start-up Companies to Work For in California, Best Companies to Work For in Palo Alto, CA, Best Health Care Companies to Work For in Palo Alto, CA, Best Start-up Companies to Work For in Palo Alto, CA. << /P 50 0 R << >> /S /LI /Pg 248 0 R /Pg 249 0 R >> /Lang (EN-US) endobj /P 269 0 R /S /P /Pg 244 0 R The indictment alleges Holmes and Balwani defrauded doctors and patients by making false claims concerning Theranoss ability to provide accurate, fast, reliable, and cheap blood tests and test results, and through omissions concerning the limits of and problems with Theranoss technologies. /K 208 0 R /MCID 2 /S /L Department of Justice >> /K 9 331 0 obj << 303 0 obj >> >> /CropBox [0 0 612 792] >> endobj /Lang (EN-US) 287 0 obj endobj /Lang (EN-US) /CropBox [0 0 612 792] endobj endobj /K 24 /Lang (EN-US) << /P 55 0 R /S /LI /S /LBody /Pg 251 0 R /Parent 11 0 R /K [15 0 R 16 0 R 17 0 R 18 0 R 19 0 R 20 0 R 21 0 R 22 0 R 23 0 R 24 0 R /K 10 218 0 obj >> The Seattle-based coffee giant originated in 1971 and has since become ubiquitous around the world. /K 30 >> 282 0 obj /Resources 496 0 R /S /LI /K 221 0 R endobj /Lang (EN-US) /Pg 244 0 R /S /LI >> Connor Radnovich/The Chronicle. By 2017, scientific and medical and technical boards were established. /S /LBody Morever, Holmes needs to grow a . 364 0 obj >> /P 51 0 R Claiming and updating your company profile on Zippia is free and easy. /Contents [409 0 R 410 0 R 411 0 R] /K 18 endobj /K 10 Theranos founder Elizabeth Holmes arrives at San Jose court, Theranos CEO on companys blood testing system. /P 367 0 R 206 0 R null null null 207 0 R null null null 208 0 R null /P 8 0 R /K 224 0 R The site is secure. 233 0 obj /K 2 /Lang (EN-US) /P 347 0 R /P 55 0 R /P 301 0 R >> endobj >> 337 0 obj endobj 381 0 obj /Lang (EN-US) /Type /MCR /S /LBody >> endobj Anyone who engages in deceptive practices should know they will not go undetected and will be held accountable. /P 8 0 R << /Lang (EN-US) /S /LBody /S /LI /S /LBody << She is photographed in 2014 while speaking about the company's vision at their headquarters in Palo Alto . The tests performed on Theranos technology, in addition, were likely to contain inaccurate and unreliable results. 133 0 obj /Contents [485 0 R 486 0 R 487 0 R] /Count 5 /K [262 0 R 263 0 R 264 0 R 265 0 R 266 0 R 267 0 R] /Contents [413 0 R 414 0 R 415 0 R] endobj By Elizabeth Lopatto / @ mslopatto. It's unclear . 387 0 obj Initially she funded Real-Time Cures with her co. /Footnote /Note 379 0 obj Claiming and updating your company profile on Zippia is free and easy. /K 6 /P 272 0 R /K 18 /S /P /S /LBody /Lang (EN-US) 111 0 obj /K 161 0 R Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity. 152 0 obj endobj 398 0 obj /S /P /K 8 >> 207 0 obj /P 306 0 R << /P 324 0 R 155 0 obj It involves a dream, a mission, a plan, a vision and quite possibly monumental corruption. /Lang (EN-US) /K 135 0 R << Its not uncommon for startups to lose money in their early years, and its not entirely unusual for the fastest burn rate to happen right before things turn around. At the time, Holmes, 39,was a mother of a 1-year-old son and pregnant with another child. 7 0 obj /P 40 0 R 2. /K 149 0 R << Photographer: David Paul Morris/Bloomberg *** Local Caption *** Elizabeth Holmes. 330 0 obj /Pg 243 0 R Similarly, defendants purchased and used commercially-available analyzers to test patient blood, while representing to investors that Theranos conducted its patients tests using Theranos-manufactured analyzers. /S /LI endobj She now has "two very young children hertoddler and an infant," according to a recent court filing. endobj 8 0 obj >> /S /LI /K 214 0 R /S /LBody /P 55 0 R /K 163 0 R 324 0 R 325 0 R 326 0 R 327 0 R 328 0 R 329 0 R 330 0 R] /S /LI /Type /MCR /CropBox [0 0 612 792] 350 0 obj >> 183 0 obj /P 311 0 R /StructParents 1 endobj >> /Lang (EN-US) And the company's downfall later became the focus of an HBO documentary, "The Inventor: Out for Blood in Silicon Valley. /S /P /S /LBody >> The indictment further alleges that Holmes and Balwani knew that many of their representations about the analyzer were false. /K 21 /S /LBody /Pg 235 0 R 1343. << >> endobj << /Annots [] endobj /P 335 0 R >> >> /K 16 << << 44 0 obj << /P 48 0 R /Lang (EN-US) Acrobat PDFMaker 18 for Word endobj >> The defendants also represented that the analyzer could produce results that were more accurate and reliable than those yielded by conventional methodsall at a faster speed than previously possible. >> >> 308 0 obj << 327 0 obj In opening statements, a federal prosecutor depicted Balwani as an instrumental accomplice who helped Holmes pull off a huge scam tied to Theranos' blood-testing technology. /Rotate 0 endobj /Pg 235 0 R /K 18 << 17 0 obj /K 117 0 R 58 0 obj /Lang (EN-US) /S /LBody THERANOS FOUNDER ELIZABETH HOLMES TO FACE TRIAL SEPARATE FROM EX-LOVER. The indictment describes a number of schemes that defendants allegedly employed to mislead investors, doctors, and patients. /Pg 251 0 R %PDF-1.5 21 0 obj The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. /MediaBox [0 0 612 792] >> 249 0 obj endobj /Type /Page /Pg 239 0 R << /K [22 386 0 R] endobj /P 8 0 R by Elizabeth Holmes. << /S /L << 56 0 obj Competitors of Theranos include Bloomberg, Morgan Stanley, and National Journal. endobj 204 0 obj 1343. endobj 24 0 obj >> endobj /P 48 0 R /K 2 << In court documents, federal prosecutors have said Holmes is a flight risk. Holmes grew up in Houston, Texas and studied chemical engineering at . 176 0 obj /Resources 428 0 R /Pg 235 0 R endobj /P 8 0 R endobj /Pg 236 0 R /S /LI 326 0 obj /S /P endobj /Pg 245 0 R /MCID 2 /P 8 0 R 117 0 obj << -mission statement: to make actionable information accessible to everyone at the time it matters. 3553. 227 0 obj /CropBox [0 0 612 792] /Pg 235 0 R /S /LI /Annots [] << /S /L /K 9 /K 189 0 R << /Pg 251 0 R Holmes fostered a culture of fear because it served her needs. 138 0 obj Theranos was a privately held healthcare technology company founded by then 19-year-old Elizabeth Holmes in 2003. The Journal reported that in 2015, the technology was only used for 15 tests. /Contents [425 0 R 426 0 R 427 0 R] /P 55 0 R The parable of Elizabeth Holmes and her company, Theranos, is not an unfamiliar one. >> Many of those statements were outright falsehoods or, more charitably, danced around the truth. Yam said that Theranos lost $16.2 million in 2010, $27.2 million in 2011, $57 million in 2012, and $92 million in 2013. /P 48 0 R << /MediaBox [0 0 612 792] /K 181 0 R << 100 0 obj endobj I did not think the technology we were using was adequate enough to be engaging in that behavior.. /K 199 0 R >> /Type /MCR Entrepreneurship lives in the realm of threading between the present and the future. /Lang (EN-US) /P 50 0 R /P 380 0 R 257 0 obj /K 8 0 R /Lang (EN-US) Onetime wunderkind Holmes and Balwani, her former partner in business and domestic affairs, stand charged with nine federal counts . Further, the indictment alleges that based on the defendants misrepresentations and omissions, many hundreds of patients paid, or caused their medical insurance companies to pay, Theranos, or Walgreens acting on behalf of Theranos, for blood tests and test results, sometimes following referrals from their defrauded doctors. That innovation combined with the use of technology to build a somewhat bulkier though still miniature and portable yet more reliable version of the micro-Lab would have provided plenty of opportunity to make strides towards the dream of empowering people with reliable, timely and inexpensive blood testing. /Pg 248 0 R In his book Bad Blood, John Carreyrou documented accounts describing Elizabeth Holmes unwillingness to revise the original micro-Lab specs and her reported tendency to shut off whoever tried to provide realistic feedback or solutions to the technical problems Theranos was facing. /Lang (EN-US) /K 22 << According to the indictment, the defendants also allegedly made numerous misrepresentations to potential investors about Theranoss financial condition and its future prospects. endobj << /P 368 0 R null 52 0 R 53 0 R] /S /LBody /Pg 257 0 R /S /P >> 340 0 obj flagrantly vague and often outright untruthful statements. 143 0 obj 12 0 obj /K 34 >> << /MediaBox [0 0 612 792] << There were . /Resources 500 0 R 316 0 obj 162 0 obj << /S /P /S /LBody 245 0 obj /S /LBody /S /P /Lang (EN-US) << 65 0 R 66 0 R 67 0 R 68 0 R 69 0 R 70 0 R 71 0 R 72 0 R 73 0 R 74 0 R Read our affiliate link policy. >> >> /MediaBox [0 0 612 792] /Rotate 0 86 0 obj /S /P >> /P 50 0 R /P 48 0 R /K 24 /Annots [] << /Resources 408 0 R >> >> Since this form of unethical behavior may lack the pangs of guilt and/or shame that generally provide people with a certain amount of self-restraint and hesitation, it can be difficult for others to suspect any bad conduct. /K 146 0 R 139 0 obj << >> Market data provided byFactset. /P 51 0 R /Type /MCR /K 26 /Annots [] /Type /Pages 391 0 obj 194 0 obj /P 33 0 R >> /P 8 0 R >> >> /Pg 242 0 R endobj /Pg 246 0 R /Lang (EN-US) << endobj Sentencing Guidelines and the federal statute governing the imposition of a sentence, 18 U.S.C. /S /P >> >> >> >> << >> << endobj Investors have poured more than $400 million into Theranos, valuing it at $9 billion and her majority stake at more than half that. /Lang (EN-US) null] /Contents [429 0 R 430 0 R 431 0 R] >> /P 8 0 R << /K [273 0 R 274 0 R] /P 8 0 R /K 167 0 R As company founder Elizabeth Holmes is sentenced to over eleven years in prison and TV adaptation The Dropout earns star Amanda Seyfried an Emmy, we reveal everything you need to know about the Theranos controversy. /Tabs /S >> 1. /P 50 0 R /P 8 0 R >> endobj /Rotate 0 191 0 obj /S /LBody 157 0 obj /P 348 0 R << /S /LI /P 48 0 R /Pg 258 0 R /ITXT (2.1.7) /MediaBox [0 0 612 792] 239 0 obj endobj /Lang (EN-US) << 127 0 obj << The vision was to revolutionize blood testing and place these miniature labs in homes across the world. /Pg 245 0 R University Mission Statement. << >> All rights reserved. /StructParents 17 null null 127 0 R null null 45 0 R null null 128 0 R null endobj /Lang (EN-US) Holmes, 34, of Los Altos Hills, Calif., founded Theranos in 2003. /K 125 0 R /K 147 0 R /S /LBody >> >> /P 380 0 R >> /Pg 247 0 R /Pg 235 0 R >> /S /P null] /P 54 0 R /Lang (EN-US) /Resources 452 0 R . 267 0 obj It claims its technology can work with just a finger prick. /Lang (EN-US) << /Nums [0 [15 0 R 16 0 R 17 0 R 18 0 R 19 0 R 20 0 R 21 0 R 22 0 R 23 0 R 94 0 R >> /Pg 238 0 R endobj The defendants also delivered to doctors and patients blood test results from which critical results were improperly removed. /K 15 ] /S /LI This office, along with our other law enforcement partners in the Bay Area, will vigorously investigate and prosecute those who do not play by the rules that make Silicon Valley work. >> /K 138 0 R /P 8 0 R /K 30 89 0 obj endobj /P 51 0 R /Chart /Figure endobj According to a statement from the SEC, "Theranos, Holmes, and Balwani made numerous false and misleading statements in investor presentations, product demonstrations, and media articles by which they deceived investors into believing that its key productcould conduct comprehensive blood tests from finger drops of blood, revolutionizing the . >> << /K 260 0 R endobj /P 63 0 R D:20180314151216 /Lang (EN-US) >> Based in Palo Alto, CA, Theranos is a small health care company with only 100 employees and an annual revenue of $55.3M. << /StructParents 0 >> << /Pg 247 0 R /K 132 0 R Elizabeth Holmes, the former CEO of Theranos convicted of defrauding investors, is seeking to delay the start of her 11-year prison sentence because she has "two very young children" to be with. /Lang (EN-US) /Pg 255 0 R /K 3 164 0 obj >> (REUTERS/Carlo Allegri). /K [26 388 0 R] /P 40 0 R /P 50 0 R /K 6 /Rotate 0 endobj 197 0 obj 2018-03-14T09:02:10-07:00 /K 14 << The defendants also represented to investors that Theranos would generate over $100 million in revenues and break even in 2014 and that Theranos expected to generate approximately $1 billion in revenues in 2015 when, in truth, the defendants knew Theranos would generate only negligible or modest revenues in 2014 and 2015. /S /L The startup entrepreneurial spirit is selling a vision of a fictional product - a product that does not yet exist. >> /S /LI /P 55 0 R /S /LBody HUMo@W~{-E$U i~ q&1KNwf{f(=7E GGY,kf~ _i^04V0[398o%dg2vWvuD`aiqeso"! << /Lang (EN-US) /S /LBody The defendants knew Theranos was not capable of consistently producing accurate and reliable results for certain blood tests, including the tests for calcium, chloride, potassium, bicarbonate, HIV, Hba1C, hCG, and sodium. /Pg 239 0 R 66 0 obj >> For the small private firm, the publically traded company or the large enterprise vision, effort and determination needs to be firmly tied to the track - compliance. /K 28 /S /LI endobj endobj << /S /P endobj /P 288 0 R 29 0 obj /S /LBody /Lang (EN-US) << Most of the tests that Theranos was performing for clients were done on devices made by other companies, Cheung testified. /K 200 0 R /S /P << /Lang (EN-US) /P 166 0 R 236 0 obj << endobj >> << /S /LBody >> Here's Robert Leach, assistant U.S. attorney, who is prosecuting the case against Holmes: "This is a case about fraud, about lying and cheating to get money," Leach says. /S /P /P 274 0 R << >> /Pg 240 0 R /K 160 0 R >> But indictments said Holmes andher colleague and former romantic partner Ramesh Sunny Balwani, lied about the technology, the company's finances, and its partnerships with the Department of Defense and Walgreens. << endobj >> << 37 0 obj /S /LBody /Pg 235 0 R << /P 8 0 R endobj endobj /S /LBody
Waikanae Funeral Home Death Notices,
Elliott Homes Complaints,
Examples Of Affirmative Defenses In Civil Cases,
Articles T