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.