		<div class="wpcnt">
			<div class="wpa">
				<span class="wpa-about">Advertisements</span>
				<div class="u top_amp">
							<amp-ad width="300" height="265"
		 type="pubmine"
		 data-siteid="109460728"
		 data-section="1">
		</amp-ad>
				</div>
			</div>
		</div><section id="top-content" class="col-xs-12 layout">
<div id="f0IDM6ei9Cq3Vq" class="moat-trackable pb-f-theme-normal pb-f-dehydrate-false pb-f-async-false full pb-feature pb-layout-item pb-f-article-article-topper" data-chain-name="no-name" data-feature-name="no-name" data-feature-id="article/article-topper" data-pb-fingerprint="0f2iLQhOKq3">
<div class="border-bottom-off border-bottom-100-pct">
<div id="article-topper" class="article-topper ">
<div>
<div id="topper-headline-wrapper" class="col-xs-12 col-sm-8 col-lg-9">
<h6 data-pb-field="custom.topperDisplayName"><span style="color: #000000;"><strong>Elizabeth Holmes, founder of blood-testing company Theranos, indicted on wire fraud, by feds </strong></span></h6>
<h6 data-pb-field="custom.topperDisplayName"><span style="color: #000000;"><strong><span class="powa-tease franklin-light">Ex-chief executive of a company promising its analyzer can run multiple blood tests with just a few drops of blood has agreed to pay $500,000 in penalties </span></strong></span></h6>
<h6 data-pb-field="custom.topperDisplayName"><span style="color: #000000;"><strong><span class="powa-tease franklin-light">Holmes, founder of the blood-testing start-up Theranos, COO, Ramesh “Sunny” Balwani, both were indicted on nine counts of wire fraud and two counts of conspiracy to commit wire fraud </span><span class="powa-tease franklin-light">by federal grand jury</span></strong></span></h6>
<h6 data-pb-field="custom.topperDisplayName"><span style="color: #000000;"><strong><span class="powa-tease franklin-light">Then CEO Elizabeth Holmes, 34, surrendered control of the company, and gave up most of her equity after the SEC indicted her with an ‘elaborate, years-long fraud’ in March, 2018</span></strong></span></h6>
</div>
</div>
</div>
</div>
</div>
</section>
<section id="main-content" class="col-xl-9 col-lg-8 col-md-8 col-sm-12 col-xs-12 col-xs-offset-0 col-sm-offset-0 col-md-offset-0 col-lg-offset-0 layout">
<div id="f0DH2UVi9Cq3Vq" class="moat-trackable pb-f-theme-normal pb-f-dehydrate-false pb-f-async-false full pb-feature pb-layout-item pb-f-article-article-body" data-chain-name="no-name" data-feature-name="no-name" data-feature-id="article/article-body" data-pb-fingerprint="0fxFIGACNq5">
<div id="article-body" class="article-body content-format-ans ">
<div class="inline-content inline-video" data-elm-loc="0">
<div class="powa-blurb-wrap powa-blurb inline-video-caption">
<h6><span class="powa-tease franklin-light"><img class="" src="https://i0.wp.com/konniemoments.com/wp-content/uploads/2018/03/Elizabeth-Holmes-3.jpg?ssl=1&;w=450" alt="Elizabeth Holmes 3" width="662" height="496" /><strong>Elizabeth Holmes on the hook for $500,000 penalty for wire fraud</strong></span></h6>
<p>The chief executive of a company promising its analyzer can run multiple blood tests with just a few drops of blood has agreed to pay $500,000 in penalties</p>
</div>
</div>
<article class="paywall">
<p data-elm-loc="1">Elizabeth Holmes, founder of the blood-testing start-up Theranos, and her former chief operating officer, Ramesh “Sunny” Balwani, were indicted by a federal grand jury on nine counts of wire fraud and two counts of conspiracy to commit wire fraud, the Department of Justice announced Friday.<br />
<strong>Related: </strong><a href="https://konniemoments.com/2018/03/14/theranos-ceo-elizabeth-holmes-surrenders-control-of-the-company-and-gives-up-most-equity-after-sec-charges-her-with-elaborate-years-long-fraud-of-750m/" rel="bookmark">Theranos CEO Elizabeth Holmes surrenders control of the company and gives up most equity after SEC charges her with ‘elaborate, years-long fraud’ of $750M </a></p>
<div class="loop-thumb"><a href="https://konniemoments.com/2018/03/14/theranos-ceo-elizabeth-holmes-surrenders-control-of-the-company-and-gives-up-most-equity-after-sec-charges-her-with-elaborate-years-long-fraud-of-750m/"><img class="attachment-loop size-loop wp-post-image alignleft" src="https://i1.wp.com/konniemoments.com/wp-content/uploads/2018/03/Elizabeth-Holmes-5.jpg?resize=174%2C131&;ssl=1" sizes="(max-width: 174px) 100vw, 174px" srcset="https://i1.wp.com/konniemoments.com/wp-content/uploads/2018/03/Elizabeth-Holmes-5.jpg?resize=174%2C131&;ssl=1 174w, https://i1.wp.com/konniemoments.com/wp-content/uploads/2018/03/Elizabeth-Holmes-5.jpg?resize=300%2C225&;ssl=1 300w, https://i1.wp.com/konniemoments.com/wp-content/uploads/2018/03/Elizabeth-Holmes-5.jpg?resize=70%2C53&;ssl=1 70w, https://i1.wp.com/konniemoments.com/wp-content/uploads/2018/03/Elizabeth-Holmes-5.jpg?zoom=3&;resize=174%2C131&;ssl=1 522w" alt="" width="174" height="131" data-attachment-id="290704" data-permalink="https://konniemoments.com/2018/03/14/theranos-ceo-elizabeth-holmes-surrenders-control-of-the-company-and-gives-up-most-equity-after-sec-charges-her-with-elaborate-years-long-fraud-of-750m/elizabeth-holmes-5/" data-orig-file="https://i1.wp.com/konniemoments.com/wp-content/uploads/2018/03/Elizabeth-Holmes-5.jpg?fit=600%2C400&;ssl=1" data-orig-size="600,400" data-comments-opened="1" data-image-meta="{";aperture";:";0";,";credit";:";";,";camera";:";";,";caption";:";";,";created_timestamp";:";0";,";copyright";:";";,";focal_length";:";0";,";iso";:";0";,";shutter_speed";:";0";,";title";:";";,";orientation";:";0";}" data-image-title="Elizabeth Holmes 5" data-image-description="" data-medium-file="https://i1.wp.com/konniemoments.com/wp-content/uploads/2018/03/Elizabeth-Holmes-5.jpg?fit=300%2C200&;ssl=1" data-large-file="https://i1.wp.com/konniemoments.com/wp-content/uploads/2018/03/Elizabeth-Holmes-5.jpg?fit=600%2C400&;ssl=1" /></a></div>
<div class="mh-excerpt">Biotech company Theranos founder Elizabeth Holmes, who promised to revolutionize blood testing, has been charged by the SEC with a “massive fraud” involving more <a title="Theranos CEO Elizabeth Holmes surrenders control of the company and gives up most equity after SEC charges her with ‘elaborate, years-long fraud’ of $750M" href="https://konniemoments.com/2018/03/14/theranos-ceo-elizabeth-holmes-surrenders-control-of-the-company-and-gives-up-most-equity-after-sec-charges-her-with-elaborate-years-long-fraud-of-750m/">[&#8230;]</a></div>
<h6 data-elm-loc="1"><img class="" src="https://i1.wp.com/konniemoments.com/wp-content/uploads/2018/03/Ramesh-%E2%80%9CSunny%E2%80%9D-Balwani-left-and-Elizabeth-Holmes.png?ssl=1&;w=450" alt="Ramesh âÂÂSunnyâ Balwani, [left] and Elizabeth Holmes" width="675" height="465" /><strong>Elizabeth Holmes, [right], founder of the blood-testing start-up Theranos, and her former COO, Ramesh “Sunny” Balwani, [left], were indicted by a federal grand jury on nine counts of wire fraud and two counts of conspiracy to commit wire fraud</strong></h6>
<p data-elm-loc="2">The indictment alleges that the pair used marketing, press interviews and financial statements to defraud potential investors on behalf of their company. The start-up promised to disrupt medicine by selling, quick, cheap blood tests directly to consumers.<br />
Holmes stepped down as chief executive of Theranos on Friday.<br />
“This conspiracy misled doctors and patients about the reliability of medical tests that endangered health and lives,” Special Agent in Charge John F. Bennett said in a statement.<br />
Holmes had already <a href="https://konniemoments.com/2018/03/14/theranos-ceo-elizabeth-holmes-surrenders-control-of-the-company-and-gives-up-most-equity-after-sec-charges-her-with-elaborate-years-long-fraud-of-750m/">settled federal fraud charges </a>by the Securities and Exchange Commission, agreeing to a $500,000 penalty and a 10-year ban on working as an officer or director of a public company.<br />
Balwani faces those charges in court.</p>
</article>
</div>
</div>
</section>

Elizabeth Holmes, founder of blood-testing company Theranos, indicted on wire fraud – agrees to pay $500,000 in penalties
