null 24 0 R 25 0 R 26 0 R 27 0 R 28 0 R 29 0 R 30 0 R 31 0 R 32 0 R >> >> 284 0 obj The indictment describes a number of schemes that defendants allegedly employed to mislead investors, doctors, and patients. null null 162 0 R null null null 163 0 R null null] Cheungs testimony continues today. Read company statement regarding investor . << /Pg 247 0 R /P 8 0 R >> /Lang (EN-US) /StructParents 9 /ParentTreeNextKey 24 /Parent 14 0 R Follow Company. /Annots [] >> /Tabs /S << /MCID 2 /K 192 0 R 219 0 obj /S /L /K 14 /Lang (EN-US) /S /LBody 200 0 obj /P 8 0 R << /Type /Page /P 378 0 R /S /LI endobj /S /LI /S /LBody << The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Cond Nast. << /Contents [457 0 R 458 0 R 459 0 R] /Pg 235 0 R /P 285 0 R /A 259 0 R Theranos dissolved in September 2018 and founder Elizabeth Holmes now faces up to 20 years in prison for fraud and conspiracy. /K 11 /P 266 0 R >> << << 329 0 obj Photographer: David Paul Morris/Bloomberg *** Local Caption *** Elizabeth Holmes. 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. /K 160 0 R The prosecution is the result of an investigation by the FDA Office of Criminal Investigations, the FBI, and the US Postal Inspection Service. /S /LI /P 59 0 R /S /L /Pg 235 0 R The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. >> 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. >> << endobj /K 234 0 R /Pg 240 0 R /K 6 /S /LI /MediaBox [0 0 612 792] /P 381 0 R 186 0 obj << >> /Contents [489 0 R 490 0 R 491 0 R] /S /LBody /Parent 14 0 R endobj endobj /S /LI << /P 54 0 R /Lang (EN-US) endobj << /P 375 0 R /Pg 243 0 R /K 10 146 0 obj /StructParents 22 And at least one employee told the financial newspaper Theranos executivesdid not report test results that would have caused concerns about the machines accuracy. /Pg 238 0 R /K 10 endobj >> endobj /S /LI /K 163 0 R In 2013, things had "started to get a bit tight," Yam said. /Tabs /S /P 261 0 R /Parent 12 0 R endobj It involves a dream, a mission, a plan, a vision and quite possibly monumental corruption. endobj >> 310 0 obj /P 380 0 R endobj /S /LBody /K 230 0 R stream /P 381 0 R endobj /Annots [] /Type /MCR << << << >> >> Theranos is a now-defunct healthcare technology startup founded by disgraced Stanford drop-out Elizabeth Holmes . >> null] /S /P /Lang (EN-US) >> /K 9 endobj /P 8 0 R Theranos' mission is to make actionable health information accessible to people everywhere in the world at the time it matters, enabling early detection and intervention of disease. /S /LBody >> << endobj endobj /S /LI Forbes has since . /P 260 0 R /K 175 0 R << << /Pg 243 0 R << Theranos stood as the next big breakthrough innovator in the healthcare industry offering an affirming achievement of the value of human ingenuity. 65 0 obj /S /LBody >> << Both defendants appeared today before U.S. Magistrate Judge Susan van Keulen for their initial appearances. << >> /K 193 0 R /CropBox [0 0 612 792] endobj endobj /S /LBody /P 8 0 R /K 4 /Lang (EN-US) << endobj null null 136 0 R null null null 137 0 R null null] 311 0 obj 214 0 obj /S /P /Type /Page To facilitate the early detection and prevention of disease and empower people everywhere to live their best possible lives. Holmes unflappability may have made it difficult for Theranos board members and prospective clients to raise or press on with the right questions at the right time. >> >> 120 0 obj /K 195 0 R << /K [105 0 R 106 0 R 107 0 R 108 0 R 109 0 R] Theranos gambit may have extended over time precisely because all four biases played a role in the making of a dream that was never fully tested against the constraints of reality. >> /Pg 249 0 R >> endobj /Pg 239 0 R /K 169 0 R /K 14 /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 9 endobj /P 279 0 R 206 0 obj << Theranos gambit may have extended over time precisely because all four biases played a role in the making of a dream that was never fully tested against the constraints of reality. 179 0 obj /Lang (EN-US) 246 0 obj /S /LBody endobj << Before sharing sensitive information, make sure you're on a federal government site. /Tabs /S /Endnote /Note /P 8 0 R /K 18 /Lang (EN-US) /P 8 0 R << >> 2 [null null 119 0 R null null null 120 0 R null null 41 0 R endobj << endobj /Pg 237 0 R !xRnE1$g9`8\\5g1^"z+. << 265 0 obj endobj endobj 376 0 obj >> 32 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. /S /LBody /S /LBody << /MediaBox [0 0 612 792] /K 24 Ad Choices, Theranos founder Elizabeth Holmes on trial as jury selection begins, Theranos downfall due to elaborate $4M conspiracy, investor says. Join the Ars Orbital Transmission mailing list to get weekly updates delivered to your inbox. endobj 314 0 obj /P 321 0 R /Pg 257 0 R 173 0 obj /Parent 5 0 R /P 277 0 R 369 0 obj << /Pg 251 0 R << /Lang (EN-US) 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 /Contents [421 0 R 422 0 R 423 0 R] /Type /Page >> /K 148 0 R 1349, and nine counts of wire fraud, in violation of 18 U.S.C. null 233 0 R null null null 234 0 R null null 64 0 R 65 0 R /S /LI /K [374 0 R 375 0 R 376 0 R 377 0 R 378 0 R 379 0 R] /Parent 12 0 R /P 54 0 R 180 0 obj Elizabeth Holmes finished testifying in wire fraud trial. << /K 168 0 R << /Lang (EN-US) /S /P endobj 395 0 obj endobj >> /S /LBody endobj 356 0 obj /K 209 0 R 59 0 obj /P 50 0 R >> << endobj /Contents [449 0 R 450 0 R 451 0 R] << The Associated Press contributed to this report. /Rotate 0 (Photo by Kristoffer Tripplaar/AP). endobj /K 28 << >> /S /LI /K 17 /K 25 /S /P /Annots [] endobj endobj << << endobj /Lang (EN-US) The motion for release said that Holmes is not a flight risk and "is highly motivated to continue complying with her conditions of release sothat she can work with her lawyers while she pursues her appeal.". /P 48 0 R For example, with respect to investors, defendants performed technology demonstrations during which defendants intended to cause potential investors to believe blood tests were being conducted on Theranoss proprietary analyzer when, in fact, the analyzer really was running a null protocol and was not testing the potential investors blood. 259 0 obj /Resources 492 0 R /Resources 416 0 R 191 0 obj . >> /P 322 0 R endobj endobj << /S /LI /P 317 0 R The defendants are charged with two counts of conspiracy to commit wire fraud and nine counts of wire fraud. << /Lang (EN-US) 110 0 obj null null 197 0 R null null null 198 0 R null null null >> According to the March 2018 statement from the SEC, Theranos, . /S /LI 126 0 obj << << /Lang (EN-US) endobj /P 8 0 R << /Pg 257 0 R /CropBox [0 0 612 792] endobj Investors large and small from around the world are attracted to Silicon Valley by its track record, its talent, and its promise. 84 0 obj 1 0 obj endobj endobj << << /Pg 235 0 R /K 30 >> /Lang (EN-US) /Annots [] /Lang (EN-US) /S /LBody /Lang (EN-US) 319 0 obj The parable of Elizabeth Holmes and her company, Theranos, is not an unfamiliar one. endobj /S /P /Lang (EN-US) >> Theranos founder Elizabeth Holmes arrives at San Jose court over alleged fraud. /Lang (EN-US) . >> /Pg 255 0 R 229 0 obj /S /P << /S /P << /Lang (EN-US) /P 380 0 R /Resources 428 0 R The indictment charges each defendant with two counts of conspiracy to commit wire fraud, in violation of 18 U.S.C. /P 310 0 R All rights reserved. >> /K 200 0 R /Parent 14 0 R >> >> /Pg 251 0 R /S /LI /Tabs /S endobj endobj /Pg 235 0 R endobj /K 233 0 R For example, allegedly, Holmes and Balwani knew that the analyzer, in truth, had accuracy and reliability problems, performed a limited number of tests, was slower than some competing devices, and, in some respects, could not compete with existing, more conventional machines. 129 0 obj << endobj The business had garnered hundreds of millions of dollars in investments and was valued at $9 billion in 2015, when a Journal expose showed the company had some not-so-favorable secrets. 169 0 obj /Contents [425 0 R 426 0 R 427 0 R] 361 0 obj /K 9 /Lang (EN-US) /P 306 0 R 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. /SourceModified (D:20180314151216) /K 18 176 0 obj /P 48 0 R endobj 125 0 obj /S /LBody 358 0 obj /S /LBody /K 118 0 R The Securities and Exchange Commission also brought civil fraud charges against Holmes and Balwani. The Seattle-based coffee giant originated in 1971 and has since become ubiquitous around the world. 7 [null null 147 0 R null null null 148 0 R null null null 371 0 obj Creating something new is about breaking the status quo. 368 0 obj >> endobj 33 0 obj 17 [null null 204 0 R null null null 205 0 R null null null /Contents [461 0 R 462 0 R 463 0 R] >> Paradoxically, instead of warranting greater scrutiny, the very gap between Theranos projected solution and the requirements of the available blood-testing technology may have prevented a number of decision-makers from focusing on practical questions during evaluation of the companys potential and its various promises. /K 21 . 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. /S /LBody endobj /Annots [] /Tabs /S /Lang (EN-US) 201 0 obj /K 121 0 R /Type /Page They are also attracted by the fact that behind the innovation and entrepreneurship are rules of law that require honesty, fair play, and transparency. /S /LI /K 3 145 0 obj << /S /LI 149 0 obj /P 373 0 R 127 0 obj 83 0 obj /StructParents 6 /S /LI /P 340 0 R Specifically, the defendants claimed that Theranos developed a revolutionary and proprietary analyzer that the defendants referred to by various names, including as the TSPU, Edison, or minilab. << Columbia University is one of the world's most important centers of research and at the same time a distinctive and distinguished learning environment for undergraduates and graduate students in many scholarly and professional fields. >> /P 48 0 R /P 8 0 R /K 30 /K 6 /Lang (EN-US) >> >> /P 371 0 R /Pg 235 0 R 320 0 obj /Pg 255 0 R /Lang (EN-US) /S /LI Through these advertisements, the defendants explicitly represented to individuals that Theranoss blood tests were cheaper than blood tests from conventional laboratories to induce individuals to purchase Theranoss blood tests. endobj /K 164 0 R 302 0 obj /P 50 0 R endobj >> /P 8 0 R 360 0 obj /P 8 0 R >> /S /LBody << /Pg 250 0 R 22 [70 0 R 71 0 R 72 0 R 73 0 R 74 0 R 75 0 R 76 0 R 77 0 R 78 0 R 79 0 R >> /CropBox [0 0 612 792] /Type /StructTreeRoot /ParentTree 9 0 R /S /LBody /K 6 /Pg 256 0 R /K 5 Zippia Score 4.7. /Pg 245 0 R /S /LBody 9 0 obj /Type /Page /P 361 0 R >> It involves a dream, a mission, a plan, a vision and quite possibly monumental corruption. Legal Statement. << /K 20 257 0 obj << >> /S /LBody endobj 304 0 obj The boundless part of her visioning deserves extra attention. /P 363 0 R Zippia's Best Places to Work lists provide unbiased, data-based evaluations of companies. << << /K 183 0 R /Pg 254 0 R >> /Lang (EN-US) /S /LI /S /LBody /MediaBox [0 0 612 792] /P 48 0 R endobj >> >> endobj When Yam was working with an analytics firm to price stock options, she asked Holmes for some key financial forecasts, including projected revenue, because the CEO had the best information. During that process, Yam had emailed Holmes asking her how much revenue she was anticipating. /K 18 /Lang (EN-US) >> /P 272 0 R /Pg 253 0 R 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. /S /LBody 105 0 obj 171 0 R null null] /K [22 386 0 R] /MCID 2 >> endobj << 227 0 obj This conspiracy misled doctors and patients about the reliability of medical tests that endangered health and lives.. /S /LBody >> >> /CreationDate (D:20180314084127-07'00') /K 0 endobj 303 0 obj >> endobj << null] >> /P 55 0 R /P 353 0 R /Pg 238 0 R /S /LI << endobj /Lang (EN-US) /Lang (EN-US) << /Parent 14 0 R Opinions expressed by Forbes Contributors are their own. >> /K 18 << >> /Lang (EN-US) /Pg 258 0 R 25 0 R 26 0 R 27 0 R 28 0 R 29 0 R 30 0 R 31 0 R 32 0 R 33 0 R 34 0 R 322 0 obj endobj /MarkInfo 2 0 R endobj << /Tabs /S << >> /Pg 241 0 R uuid:08e7f9c5-06b3-4447-b9e6-d8f448ec8b85 151 0 obj null null 191 0 R null null null 192 0 R null null] endobj null 114 0 R null] /Lang (EN-US) << /P 338 0 R /S /P << /K 115 0 R >> /K [10 392 0 R] /P 48 0 R /S /LBody /Pg 251 0 R /P 42 0 R /K 220 0 R >> >> Zippia gives an in-depth look into the details of Theranos, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Theranos. /S /LI Market data provided byFactset. /Rotate 0 A vision and its attached goals may inspire and motivate, but they can also severely contrive our ability to consider a broader set of possibilities or address contradictory information. /Resources 472 0 R << << /Pg 245 0 R /S /P << /S /LBody /K 51 >> endobj /Lang (EN-US) /P 320 0 R /S /P . /K 199 0 R >> 277 0 obj If convicted, they could each face maximum penalties of 20 years in prisona $2.75 million fine and possiblyrestitution, the Department of Justice said. emblazoned in block capitals in the Theranos lobby, was 'Do or do not. /Lang (EN-US) >> /Contents [493 0 R 494 0 R 495 0 R] << 1. >> /Pg 240 0 R Theranos was a blood testing company based in Palo Alto and Newark, Calif. Holmes used a combination of direct communications, marketing materials, statements to the media, financial statements . /S /LI /P 270 0 R << /Pg 244 0 R /Tabs /S >> /Type /Page /S /P 387 0 obj << 85 0 R 86 0 R 87 0 R 88 0 R 89 0 R 90 0 R 91 0 R 92 0 R 93 0 R] /StructParents 10 /Lang (EN-US) The next witness was Erika Cheung, who was hired by Theranos out of undergrad as a lab associate. /K 0 /S /L Answer 1. /Pg 235 0 R /P 372 0 R >> >> endobj 38 0 obj A March 17 hearing is scheduled on her request to stay out of prison during her appeal. n. o s /) was an American privately held corporation that was touted as a breakthrough health technology company. << /S /LBody : 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. 152 0 obj 10 [null null 163 0 R null null null 164 0 R null null null /Chart /Figure /Resources 484 0 R About us Our mission is to make actionable information accessible to everyone at the time it matters. >> << /P 55 0 R 15 [null null 192 0 R null null null 193 0 R null null null /K 205 0 R 18 0 obj /P 63 0 R /Lang (EN-US) /K 122 0 R << endobj /Pg 252 0 R Elizabeth Holmes, the infamous biotech chief executive who promised to revolutionize blood testing, has been found guilty of fraud. endobj /Type /MCR endobj >> /Lang (EN-US) /Lang (EN-US) 330 0 obj << << 23 0 obj Theranos has established itself as a great place to work in California, and it is number 17 on Zippia's list of, The average employee at Theranos makes $44,094 per year. /K 133 0 R /P 282 0 R /StructParents 17 >> The mission and vision statements of Kraft Heinz are indicative of a company that desires to lead the rest in everything it does. >> >> She already settled with the Securities and Exchange Commission (SEC) for a $500,000 penalty and 10-year ban on serving as an officer or director of a public company. /S /P /P 8 0 R /S /LI /P 8 0 R /K 120 0 R endobj /Lang (EN-US) endobj 96 0 obj /Artifact /P /K 29 /P 8 0 R /S /LI 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 . null null 220 0 R null null null 221 0 R null null] endobj 154 0 obj /Lang (EN-US) %PDF-1.5 312 0 obj /Pg 255 0 R /K 22 /Pg 238 0 R /K 7 << /Pg 250 0 R 180 0 R null null null 181 0 R null null null 182 0 R null 188 0 R null null null 189 0 R null null null 190 0 R null 51 0 obj 290 0 obj /S /Table << /P 8 0 R 155 0 obj /Lang (EN-US) endobj /Lang (EN-US) /P 362 0 R /P 341 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. null] 60 0 obj The Securities and Exchange Commission today charged Silicon Valley-based private company Theranos Inc., its founder and CEO Elizabeth Holmes, and its former President Ramesh "Sunny" Balwani with raising more than $700 million from investors through an elaborate, years-long fraud in which they exaggerated or made false statements about the company's technology, business, and financial . endobj << >> endobj << /Lang (EN-US) /Pg 252 0 R >> /RoleMap 7 0 R Heinz and Kraft Foods. 138 0 obj /Lang (EN-US) Special conditions for use statement(s): The Theranos HSV-1 IgG Assay is for prescription use only in accordance with 21 CFR 801.109 4. /Lang (EN-US) >> >> /Resources 436 0 R << /Resources 496 0 R There are at least four biases that can let a belief about a desired future state shape reality despite its disconnectedness from reality. << endobj >> /K 3 /Pg 235 0 R /S /LBody /MediaBox [0 0 612 792] 343 0 obj Avoid simply listing what your company does and shift your focus to the bigger picture: what guides your company strategy and inspires your workforce. 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. 237 0 obj /TextBox /Art /Pg 239 0 R /P 274 0 R /Lang (EN-US) 231 0 obj >> 262 0 obj endobj 243 0 obj /Pg 249 0 R 117 0 R null null null 118 0 R null null] /S /LBody >> Theranos's mission statement is "Our mission is to make actionable information accessible to everyone at the time it matters". /Pg 239 0 R /Annots [] /S /LI endobj /S /LI << << /P 332 0 R endobj /Underline /Span >> /MCID 2 /Length 502 0 R >> /S /P 102 0 obj /Lang (EN-US) /StructParents 8 The Theranos founder intentionally deceived investors, a US . /K 26 endobj /MediaBox [0 0 612 792] << /K 2 >> /P 293 0 R /Outline /Span /Pg 256 0 R /P 8 0 R /S /LBody /Pg 247 0 R 29 0 obj /Lang (EN-US) /P 8 0 R /S /L << /P 297 0 R 373 0 obj /Pg 258 0 R >> Tim De Chant /S /LBody endobj << 6 0 obj >> << 293 0 obj /P 335 0 R endobj << /K 12 "Sunny Balwani did not start Theranos," said the lawyer . /S /LI /Lang (EN-US) >> >> 20 0 obj /S /P 190 0 obj endobj /S /LI /S /P >> /Type /MCR << Theranos's mission statement is "To facilitate the early detection and prevention of disease and empower people everywhere to live their best possible lives." /P 8 0 R >> Fear a Culture of Fear. /Type /Pages /P 8 0 R 142 0 obj /K [26 388 0 R] /P 51 0 R << /K [26 395 0 R] In the end, the innovations Theranos was after were not only meant for its own success but to secure a better future for millions of people. endobj Use of and/or registration on any portion of this site constitutes acceptance of our User Agreement (updated 1/1/20) and Privacy Policy and Cookie Statement (updated 1/1/20) and Ars Technica Addendum (effective 8/21/2018). /K 129 0 R /P 260 0 R 238 0 obj /P 51 0 R /K 14 << /P 355 0 R /StructParents 13 /S /LBody /S /LBody << /Pg 257 0 R /S /LBody /S /LI << endobj 114 0 obj 21 [60 0 R 61 0 R 62 0 R null null 229 0 R null null null 230 0 R /Pg 248 0 R << /Pg 248 0 R Bundled together, these biases not only warped Holmes sense of truth, but they likely slanted the perspective of key stakeholders who were attracted to the many promises made by Theranos. endobj Did you ever provide financial projections to investors? Robert Leach, an assistant US attorney,asked Yam. 272 0 obj /Rotate 0 4 0 obj /S /P /P 51 0 R << /Pg 235 0 R null null 214 0 R null null] endobj << 380 0 obj 89 0 obj /K 216 0 R << /Pg 249 0 R endobj /Lang (EN-US) Holmes, at one point the nations youngest self-made female billionaire, and her former chief operating officer Ramesh Balwani, were indicted by federal prosecutors in June 2018 and charged with two counts conspiracy to commit wire fraud and nine counts of wire fraud each. << << /Lang (EN-US) /P 55 0 R << According to the indictment returned yesterday and unsealed today, the charges stem from allegations Holmes and Balwani engaged in a multi-million dollar scheme to defraud investors, and a separate scheme to defraud doctors and patients. /Lang (EN-US) /K 208 0 R endobj << endobj /MCID 2 /K 261 0 R The parable of Elizabeth Holmes and her company, Theranos, is not an unfamiliar one. >> 226 0 obj >> /Pg 236 0 R /S /LI << /P 8 0 R /P 350 0 R /K 26 /K [26 384 0 R] /Lang (EN-US) /Lang (EN-US) endobj OUR MISSION listen to our readers and cover the topics that matter to them . The vision was to revolutionize blood testing and place these miniature labs in homes across the world. /Pg 235 0 R endobj << 145 0 R null null null 146 0 R null null null 147 0 R null /Pg 247 0 R 215 0 obj >> /S /LI >> The conduct alleged in these charges erodes public trust in the safety and effectiveness of medical products, including diagnostics. /Parent 13 0 R /S /P 355 0 obj /Lang (EN-US) /Type /Catalog << >> /K 198 0 R /Pg 249 0 R << /P 379 0 R endobj /Lang (EN-US) 378 0 obj << endobj >> 211 0 R null null null 212 0 R null null null 213 0 R null At times during that period, Balwani worked in several capacities including as a member of the companys board of directors, as its president, and as its chief operating officer. << /StructParents 23 << /S /LI /Lang (EN-US) endobj 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 . /Lang (EN-US) Yam said that Theranos lost $16.2 million in 2010, $27.2 million in 2011, $57 million in 2012, and $92 million in 2013. /S /P 133 0 obj endobj 332 0 obj /Tabs /S << /Lang (EN-US) endobj endobj /Lang (EN-US) /S /LI Holmes, 34, of Los Altos Hills, Calif., founded Theranos in 2003. endobj /Lang (EN-US) Theranos Inc. founder Elizabeth Holmes was criminally charged in June 2018 with defrauding investors following the collapse of her blood-testing startup. >> << endobj /S /P /Type /MCR /K 144 0 R /Pg 256 0 R >> endobj /Lang (EN-US) endobj 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 . >> /S /P 192 0 obj /P 23 0 R /P 8 0 R As years went by, whenever employees or experts raised warnings . /K 178 0 R 139 0 R null null null 140 0 R null null null 141 0 R null /P 50 0 R << Though highly desirable, these significant features were not as instrumental in the fulfillment of Theranos vision as they were initially pledged. /S /LI 397 0 obj 175 0 obj << /P 374 0 R Your California Privacy Rights | Do Not Sell My Personal Information /K 6 /P 273 0 R endobj 24 0 obj /P 8 0 R /Rotate 0 /P 380 0 R /P 46 0 R << /P 380 0 R /Lang (EN-US) /K 32 /S /LI >> The story raised concerns about the accuracy of Theranos blood-testing technology, which put patients at risk of having conditions either misdiagnosed or ignored. /S /P << endobj >> /Tabs /S >> /K [273 0 R 274 0 R] >> /P 50 0 R << /Pg 240 0 R /Lang (EN-US) 314 0 R 315 0 R 316 0 R 317 0 R 318 0 R 319 0 R 320 0 R 321 0 R 322 0 R 323 0 R /Lang (EN-US) 44 0 obj /Lang (EN-US) 2018-03-14T08:41:27-07:00 /P 50 0 R /S /LI /S /LBody << /Pg 258 0 R Balwani . /S /P 216 0 obj /P 8 0 R /P 8 0 R /P 8 0 R /P 288 0 R << /P 40 0 R 326 0 obj /Type /Metadata Investors who put a total of $632 million into Theranos in its latest funding round from 2014 to 2015 included " Rupert Murdoch and family-controlled Cox Enterprises Inc., -- [Cox family holdings . /Parent 5 0 R << /K 12 >> /P 8 0 R 364 0 obj endobj /K 189 0 R >> << /Pg 236 0 R 283 0 obj 139 0 obj /K [28 391 0 R] /StructParents 15 >> << /S /P 331 0 obj /K 13 /K [349 0 R 350 0 R 351 0 R 352 0 R 353 0 R] /K 117 0 R 235 0 obj /Lang (EN-US) << << 2018-03-14T09:02:10-07:00 /S /LI /P 34 0 R /P 319 0 R /Contents [429 0 R 430 0 R 431 0 R] 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. /P 42 0 R /S /LI /P 337 0 R /P 59 0 R 101 0 obj endobj According to the indictment, Holmes and Balwani used advertisements and solicitations to encourage and induce doctors and patients to use Theranoss blood testing laboratory services, even though the defendants knew Theranos was not capable of consistently producing accurate and reliable results for certain blood tests.

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