Silicon Valley wunderkind charged with ‘massive’ fraud, by Kevin Dugan.
Elizabeth Holmes — the Silicon Valley wunderkind whose blood-testing startup Theranos has collapsed in a slew of scandals — has been charged with “massive fraud” by the Securities and Exchange Commission.
The SEC on Wednesday accused Theranos CEO Holmes and a top lieutenant of defrauding investors of more than $700 million through false claims about its technology.
Holmes — a Steve Jobs wannabe who dressed exclusively in black turtlenecks as she talked up her blood-testing unicorn, which at one point boasted a valuation north of $9 billion — settled with the regulators for $500,000 while neither admitting nor denying the accusations. …
While Theranos had said it was on track to make $100 million by the end of 2014, the real figure was “a little more than $100,000,” according to the SEC. And, contrary to what Theranos told investors about the Department Defense using its blood tests, they were “never deployed by the DOD in the battlefield, in Afghanistan, or on medevac helicopters,” according to the settlement. …
The settlement marks a further humiliation for Holmes, a Silicon Valley star who at one point was the youngest self-made woman billionaire with $4.5 billion in net worth.
What Elizabeth Holmes’ Theranos Scandal Reveals About the Deep State, by Steve Sailer.
Wall Street Journal reporter John Carreyou’s long crusade to expose Elizabeth Holmes’ Silicon Valley blood-testing start-up Theranos as a fake-it-until-you-make it hoax resulted today in the SEC imposing a ten year ban on Holmes and a $500,000 fine for “massive fraud.” …
Our elites really believe the conventional wisdom that there must be all this discriminated against non-white male talent out there. Obviously, the only reason there haven’t been female, black, or Hispanic Steve Jobs yet is because of discrimination. So if Elizabeth Holmes dressed like Steve Jobs [she always wore black turtlenecks, just like Jobs], then she probably is the New Steve Jobs.
My what a deep voice she has:
Con-people are learning to rip off the elite by playing to their PC fantasies.