Business

The SEC isn't sending Theranos CEO Elizabeth Holmes to jail for fraud - here are her punishments

11 monthes ago   |   By

REUTERS/Mike Blake
Elizabeth Holmes has been charged with engaging in a "massive fraud" by the Securities and Exchange Commission
She won't be going to jail over this
The Department of Justice is also investigating the matter - but that's a separate case
Elizabeth Holmes, the founder of blood testing startup Theranos, has been charged with engaging in a "massive fraud" by the Securities and Exchange Commission. The SEC says she and the company's president raised more than $700 million using an "elaborate, years-long fraud in which they exaggerated or made false statements about the...
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Theranos founder Elizabeth Holmes has been forced to give up majority control of the company to resolve charges of a 'massive fraud'

Theranos founder Elizabeth Holmes has been forced to give up majority control of the company to resolve charges of a 'massive fraud'

11 monthes ago   |   By

REUTERS/Carlo Allegri
Theranos, its CEO Elizabeth Holmes, and its former president Sunny Balwani have been charged by the SEC with fraud.
The agency said Wednesday that Theranos and Holmes have agreed to resolve the charges against them.
As part of the resolution, Holmes has to give up majority voting control over the company and reduce her equity in the privately-held company.
Theranos, its CEO Elizabeth Holmes, and former president Sunny Balwani, have been charged with "massive fraud" by the SEC.
The SEC alleged that Theranos "made numerous false and misleading statements in investor...
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Theranos founder Elizabeth Holmes has been charged with fraud by the SEC

Theranos founder Elizabeth Holmes has been charged with fraud by the SEC

11 monthes ago   |   By

REUTERS/Brendan McDermid
Theranos, along with its CEO Elizabeth Holmes and former president Sunny Balwani have been charged by the SEC with "massive fraud," the agency said Wednesday.
"Investors are entitled to nothing less than complete truth and candor from companies and their executives," SEC's Enforcement Division co-director Steven Peikin said in a release. "The charges against Theranos, Holmes, and Balwani make clear that there is no exemption from the anti-fraud provisions of the federal securities laws simply because a company is non-public, development-stage, or the subject of...
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