Elizabeth Holmes sentenced to 11 years for defrauding Theranos investors with false claims
Independent - 20-Nov-2022A restitution hearing will decide how much she must repay
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Fraudulent blood-testing company
Theranos Inc. was an American privately held corporation that was mistakenly touted as a breakthrough health technology company. Founded in 2003 by then 19-year-old Elizabeth Holmes, Theranos raised more than US$700 million from venture capitalists and private investors, resulting in a $10 billion valuation at its peak in 2013 and 2014. The company claimed that it had devised blood tests that required very small amounts of blood and that could be performed rapidly and accurately, all using compact automated devices that the company had developed. These claims were proven to be false.
Company has been defunct from September 2018.
Visit website: https://en.wikipedia.org/wiki/Theranos
Details last updated 29-Sep-2024
A restitution hearing will decide how much she must repay