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Ex-Theranos CEO, Stanford dropout Elizabeth Holmes’ trial delayed until August 2020

30-7-2019 < Blacklisted News 22 539 words
 

The pending trial of former Theranos CEO and Stanford dropout Elizabeth Holmes and COO Ramesh Balwani has been delayed to August 4, 2020 so the defense can review evidence. 


After the defense’s request to review exculpatory evidence was granted, the U.S District Court for the Northern District of California revealed that jury selection for the trial is to begin the week of July 28, 2020. 


Holmes and Balwani bear charges of “massive fraud” from the U.S. Security and Exchange Commission (SEC) since Theranos’ downfall in 2015. They stand accused of amassing more than $700 million from private investors by making false claims regarding the financial and technological success Theranos was yielding. The jury further stated that “the tests performed on Theranos technology were likely to contain inaccurate and unreliable results.” Doctors and patients alike have been misguided by such test results, adding to the list of charges against the defendants. 


In the wake of a two-year investigation led and concluded by the U.S. Attorney’s office in June 2018, Holmes and Balwani were charged with nine counts of wire fraud and two counts of conspiracy to commit wire fraud. These allegations hold them accountable for endangering the lives of patients and acquiring millions of dollars by defrauding investors. Venture capitalists such as Timothy Draper and Oracle investor Don Lucas were among those deceived by Theranos’ false statements. 


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It is only fitting that John Carreyrou, who broke the Theranos scandal story and laid it out for the world would be the WSJ writer who also wrote the company's epitaph, which he did last night when the WSJ reported that the scandal-plagued blood-testing company accused of perpetrating Silicon Valley’s biggest fraud, will soon cease to exist. In an email to shareholders (apparently those still exist), the company said it would formally dissolve, and would seek to pay unsecured creditors its remaining cash in coming months.



Federal prosecutors filed criminal charges against Theranos Inc. founder Elizabeth Holmes and the blood-testing company’s former No. 2 executive, alleging that they defrauded investors out of hundreds of millions of dollars and also defrauded doctors and patients.



The founder of a US start-up that promised to revolutionise blood testing has agreed to settle charges that she raised over $700m (£500m) fraudulently. The Securities and Exchange Commission, a top US financial regulator, said Elizabeth Holmes and Theranos deceived investors about the firm's technology. Ms Holmes will lose control of the firm and be fined $500,000.



2016 has not been too kind to Elizabeth Holmes, the Steve-Jobs wannabe in charge of fraudulent Theranos. She has thus far been banned for 2 years from operating labs, removed from hosting fundraisers for Hillary and lost her entire net worth. And now, the Wall Street Journal has published the "tell-all" story of the whistle-blower, 26 year old Tyler Shultz, who brought the the whole Theranos farce crashing down. It's a sordid tale complete with all the expected twists and turns of a Jason Bourne thriller including intimidation, coercion and private detectives.



Kissinger deserves vigorous prosecution for war crimes, for crimes against humanity, and for offenses against common or customary or international law, including conspiracy to commit murder, kidnap, and torture.
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