Elizabeth Holmes, the CEO of Theranos, has been ordered to pay half a million dollars in restitution for bilking investors out of a ton of cash. Since she was chosen to be a ‘global ambassador’ by Obama, she received lots of positive press coverage and used it to raise capital. Now things have changed.
CEO Charged With Multi-Million Dollar Fraud Was an Obama ‘Ambassador for Global Entrepreneurship’
On Wednesday, the SEC settled a lawsuit against Theranos CEO Elizabeth Holmes forcing her to cede control of her company and pay a $500,000 fine in response to charges that she used her position to perpetrate a “massive fraud” scheme. The SEC believes that Holmes ultimately bilked her investors out of more than $700 million in return for faulty medical technology […]
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