Founder of Theranos Charged by Fraud by SEC

Credit: Wochit
Published on March 14, 2018 - Duration: 00:47s

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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