<< /Resources 480 0 R endobj The Theranos story has been turned into an HBO . A young (age-defying), pure-looking (evil-defying), masculine-sounding (stereotype-defying) female CEO speaking about Theranos unfulfilled feats in the present or past present tense, Holmes proposition was so enticing that she was able to assemble one of the most impressive boards in corporate America. >> << /K 15 >> /Type /Page /K 49 Theranos Founder Elizabeth Holmes Found Guilty of Investor Fraud During the trial Holmes accused her ex-boyfriend and business partner, Ramesh "Sunny" Balwani, of emotional and sexual abuse at the time of the alleged crimes, impairing her mental state. /S /P /P 381 0 R /Endnote /Note /Rotate 0 Creating something new is about breaking the status quo. >> 135 0 obj << << endobj /StructParents 13 << endobj /P 40 0 R /K 260 0 R 132 0 obj 342 0 obj Assistant U.S. /K 6 << << /Pg 235 0 R /Pg 235 0 R The .gov means its official.Federal government websites often end in .gov or .mil. endobj >> To facilitate the early detection and prevention of disease and empower people everywhere to live their best possible lives. /Parent 14 0 R >> endobj 375 0 obj /P 297 0 R Elizabeth Holmes and Theranos: How "The Change in Healthcare" Turned 341 0 R 342 0 R 343 0 R 344 0 R 345 0 R 346 0 R 347 0 R 348 0 R] << /K [8 94 0 R] endobj /K [15 0 R 16 0 R 17 0 R 18 0 R 19 0 R 20 0 R 21 0 R 22 0 R 23 0 R 24 0 R >> >> 272 0 obj /Lang (EN-US) /Pg 254 0 R << /K [24 387 0 R] << >> /Lang (EN-US) /Rotate 0 endobj >> >> /P 48 0 R /P 370 0 R << /P 278 0 R For example, with respect to investors, defendants performed technology demonstrations during which defendants intended to cause potential investors to believe blood tests were being conducted on Theranoss proprietary analyzer when, in fact, the analyzer really was running a null protocol and was not testing the potential investors blood. /S /LBody /Lang (EN-US) /S /LI 6 0 obj endobj << /P 363 0 R endobj Theranos founder Elizabeth Holmes "lied and cheated" for money and fame, prosecutors alleged on the first day of the former Silicon Valley star's trial. 322 0 obj /Parent 11 0 R endobj /Lang (EN-US) /MediaBox [0 0 612 792] /K [276 0 R 277 0 R 278 0 R 279 0 R 280 0 R 281 0 R 282 0 R 283 0 R 284 0 R 285 0 R null null 131 0 R null null] endobj 116 0 obj /Lang (EN-US) /K 115 0 R /Pg 235 0 R 291 0 obj endobj /S /LBody 57 0 R 58 0 R null null 223 0 R null null null 224 0 R null endobj /S /LI /Lang (EN-US) /Resources 412 0 R << /Resources 408 0 R /Parent 12 0 R << endobj endobj /Resources 468 0 R /Lang (EN-US) << endobj . endobj << uuid:f59fd1a5-0a21-408a-99c1-079770aebbbd Holmes said in the recent court filing, she had planned to attend a wedding of close friends in Mexico and theticket was canceled immediately when the governmentraised the issue. Leaving Little Space for Inspiration. /K 24 << /StructParents 16 49 0 obj /K [26 388 0 R] /K [26 395 0 R] /P 8 0 R /Lang (EN-US) /K 9 << /ModDate (D:20180314090210-07'00') 64 0 obj << /S /LI << /Lang (EN-US) /S /LBody >> >> /Lang (EN-US) << 117 0 R null null null 118 0 R null null] << >> /S /LBody /Pg 257 0 R /S /LI endobj /DropCap /Figure >> stream /P 171 0 R 66 0 obj << 383 0 obj /K 6 endobj /P 357 0 R endobj << /K 18 endobj /Lang (EN-US) /Lang (EN-US) null null 121 0 R null null null 122 0 R null null null After asking questions about Theranos continued losses and lack of revenue, prosecutors showed Yam a document they said was shared with investors; it projected $140 million in revenue in 2014 and $990 million in 2015. /Pg 245 0 R Balwani, 53, of Atherton, Calif., was employed at Theranos from September of 2009 through 2016. /S /L /K [368 0 R 369 0 R 370 0 R 371 0 R 372 0 R 373 0 R] Did you ever provide financial projections to investors? Robert Leach, an assistant US attorney,asked Yam. Investors have poured more than $400 million into Theranos, valuing it at $9 billion and her majority stake at more than half that. 382 0 obj /P 55 0 R 262 0 obj endobj (Photo by Brad Barket/Invision/AP). /Pg 257 0 R endobj /S /P /Pg 235 0 R /S /LI 258 0 obj << /Pg 235 0 R The defendants also delivered to doctors and patients blood test results from which critical results were improperly removed. << 299 0 obj 189 0 obj >> /P 33 0 R /Nums [0 [15 0 R 16 0 R 17 0 R 18 0 R 19 0 R 20 0 R 21 0 R 22 0 R 23 0 R 94 0 R >> /K 189 0 R /K 10 Theranos founder Elizabeth Holmes 'lied and cheated', trial hears << 340 0 obj /MCID 2 endobj << 318 0 obj Elizabeth Holmes, the former CEO of Theranos convicted of defrauding investors, is seeking to delay the start of her 11-year prison sentence because she has "two very young children" to be with. /Type /Page /K 6 /S /LI /Type /MCR >> /S /LI /Type /Page /K 158 0 R << 398 0 obj /StructParents 17 /P 50 0 R /Pg 247 0 R /Count 5 << endobj /P 376 0 R /S /P >> /P 299 0 R /P 367 0 R Attorneys Jeff Schenk, Robert S. Leach, and John C. Bostic are prosecuting the case with the assistance of Laurie Worthen and Bridget Kilkenny. 63 0 obj /S /LI /Lang (EN-US) /Lang (EN-US) /P 334 0 R /S /LI /K 2 >> /Pg 245 0 R 251 0 obj /S /LI The rise and fall of Theranos: A timeline - The Mercury News 129 0 obj endobj /S /LBody /P 324 0 R /S /LI 96 0 obj However, any sentence following conviction would be imposed by the court after consideration of the U.S. /Lang (EN-US) endobj endobj /K 2 /Lang (EN-US) >> /P 8 0 R Theranos Was Losing Hundreds Of Millions As Elizabeth Holmes Talked Up >> 52 0 obj 378 0 obj /S /LBody /P 50 0 R endobj /K 37 308 0 obj CNMN Collection >> >> 224 0 obj endobj /Lang (EN-US) 71 0 obj /CropBox [0 0 612 792] 158 0 obj /K 21 /K 2 83 0 obj /Pg 256 0 R endobj 333 0 obj /P 381 0 R /Annots [] /P 321 0 R Ad Choices, Theranos founder Elizabeth Holmes on trial as jury selection begins, Theranos downfall due to elaborate $4M conspiracy, investor says. 201 0 obj /P 380 0 R The site is secure. << /P 8 0 R /P 8 0 R endobj << << /S /LI /P 352 0 R << endobj /K 157 0 R 202 0 obj << << endobj Holmes fostered a culture of fear because it served her needs. >> /P 48 0 R endobj /Lang (EN-US) /K 163 0 R Holmes unflappability may have made it difficult for Theranos board members and prospective clients to raise or press on with the right questions at the right time. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. /P 8 0 R /S /P /P 48 0 R endobj Elizabeth Holmes, the infamous biotech chief executive who promised to revolutionize blood testing, has been found guilty of fraud. Mutual Fund and . >> Elizabeth Holmes looms large on first day of Sunny Balwani's Theranos endobj /K [262 0 R 263 0 R 264 0 R 265 0 R 266 0 R 267 0 R] << /Rotate 0 /K 127 0 R >> Based in Palo Alto, CA, Theranos is a small health care company with only 100 employees and an annual revenue of $55.3M. /K [111 0 R 112 0 R 113 0 R 114 0 R] The tests performed on Theranos technology, in addition, were likely to contain inaccurate and unreliable results. Last week, Zuckerberg was back with 3,000 words . >> /S /P /Pg 257 0 R The defendants are charged with two counts of conspiracy to commit wire fraud and nine counts of wire fraud. >> /S /P << /Pg 242 0 R /Pg 235 0 R 338 0 obj >> Theranos (@theranos) / Twitter /Pg 245 0 R endobj 188 0 R null null null 189 0 R null null null 190 0 R null /K 27 << /K 205 0 R 65 0 obj /P 369 0 R /Pg 252 0 R Theranos went on to issue private stock in six rounds between 2014 and 2015, starting at 17 cents per share and ending at $17 per share, according to a document explained by Yam, with investors . /K 3 All rights reserved. 175 0 obj /P 48 0 R << endobj overstating the extent of Theranos' relationships with commercial partners and government entities, to whom they had also made misrepresentations . /S /LBody 190 0 obj >> /MediaBox [0 0 612 792] 97 0 obj >> /K 10 /MCID 2 137 0 obj /K 14 279 0 obj Best Mission Statements: 12 Examples You Need to See - Fond << Further, defendants allegedly represented to investors that Theranos had a profitable and revenue-generating business relationship with the United States Department of Defense and that Theranoss technology had deployed to the battlefield when, in truth, Theranos had limited revenue from military contracts and its technology was not deployed in the battlefield. endobj >> /S /LI /Lang (EN-US) 165 0 obj /P 54 0 R /Annots [] 80 0 R 81 0 R 82 0 R] /S /LBody 79 0 obj /S /LI >> 2023 FOX News Network, LLC. /Lang (EN-US) /S /LBody >> << /MCID 2 /K 167 0 R /Type /MCR /S /LI /K 22 >> /Superscript /Span /Count 5 endobj She already settled with the Securities and Exchange Commission (SEC) for a $500,000 penalty and 10-year ban on serving as an officer or director of a public company. endobj /Pg 255 0 R 11 [null null 169 0 R null null null 170 0 R null null null /Contents [461 0 R 462 0 R 463 0 R] /S /LBody /P 311 0 R 269 0 obj /P 48 0 R /MediaBox [0 0 612 792] /P 8 0 R /K 3 endobj /Lang (EN-US) /P 332 0 R /Kids [245 0 R 246 0 R 247 0 R 248 0 R 249 0 R] endobj Tech workers are using company mission statements to hold their CEOs accountable. >> >> /P 8 0 R 231 0 obj /K 3 endobj /Lang (EN-US) endobj >> Elizabeth Holmes Mission | Full Interview Fortune MPW - YouTube /S /LI /Lang (EN-US) /P 48 0 R >> endobj >> /S /LI /Lang (EN-US) 2018-03-14T09:02:10-07:00 >> endobj Theranos's mission statement is "To facilitate the early detection and prevention of disease and empower people everywhere to live their best possible lives." 67 0 obj endobj /Pg 247 0 R endobj All rights reserved. /P 50 0 R /Type /Page /Pg 256 0 R 93 0 obj And while some have observed that her behavior showed various sociopathic tendencies, the relaxed aura that cheating in the service of a larger cause may afford the average person may amp up ethical risk far more than the risk posed by sociopathic individuals. endobj endobj % /Parent 13 0 R Starbucks: Inspire and nurture the human spirit - one person, one cup and one neighborhood at a time. /Pg 235 0 R /P 353 0 R /P 273 0 R The indictment describes a number of schemes that defendants allegedly employed to mislead investors, doctors, and patients. 1 [null null 115 0 R null null null 116 0 R null null null >> /Pg 257 0 R /Lang (EN-US) >> /K 190 0 R Mark Zuckerberg's Facebook mission statements hide his real aim /P 42 0 R /P 268 0 R /Lang (EN-US) << /S /P 94 0 obj 174 0 obj 248 0 obj /Pg 235 0 R endobj endobj /Annots [] >> << /K 203 0 R /K 2 154 0 obj >> /K 7 The defendants nevertheless used interstate electronic wires to purchase advertisements intended to induce individuals to purchase Theranos blood tests at Walgreens stores in California and Arizona. /Lang (EN-US) /P 8 0 R Elizabeth Holmes donated $12,600 to the Democratic Party. /P 288 0 R >> /K 14 >> /K 151 0 R /K 390 0 R /MediaBox [0 0 612 792] 141 0 obj /S /LBody /K 16 << /S /LBody /P 8 0 R endobj By 2017, scientific and medical and technical boards were established. 199 0 obj /P 325 0 R /Lang (EN-US) /Lang (EN-US) >> /Pg 252 0 R /StructParents 1 Theranos founder Elizabeth Holmes arrives at San Jose court over alleged fraud. 127 0 obj Mission statements, where crafted and utilized effectively, have been proven to drive billions of dollars in corporate value. /K 230 0 R >> >> << 146 0 obj << /P 48 0 R Similarly, defendants purchased and used commercially-available analyzers to test patient blood, while representing to investors that Theranos conducted its patients tests using Theranos-manufactured analyzers. >> /P 51 0 R /Annots [] /P 50 0 R /P 380 0 R Research on the dark sides of creativity suggests that not only are people more likely to act dishonestly when they are in a creative state, but that cheating, in itself, can actually make people more creative. /InlineShape /Figure Cheungs testimony continues today. 163 0 obj THERANOS FOUNDER ELIZABETH HOLMES TO FACE TRIAL SEPARATE FROM EX-LOVER. >> /Parent 12 0 R endobj /K [304 0 R 305 0 R 306 0 R 307 0 R 308 0 R 309 0 R 310 0 R 311 0 R 312 0 R 313 0 R endobj /P 55 0 R endobj /S /LI >> /Pg 258 0 R The company boasted the ability to get results from very small amounts of blood, something that would be revolutionary in medical diagnostics. /K 18 /P 263 0 R >> She had a charisma to her; she was very articulate,Cheung saidof Holmes. /Lang (EN-US) << endobj << >> endobj /P 309 0 R << >> /O /Layout >> 371 0 obj 345 0 obj endobj /Resources 456 0 R /Parent 13 0 R Former Theranos board member, investor testifies against Elizabeth endobj /S /L /P 275 0 R /CropBox [0 0 612 792] 2 0 obj /S /LI The startup entrepreneurial spirit is selling a vision of a fictional product - a product that does not yet exist. endobj /Lang (EN-US) /P 39 0 R 303 0 obj endobj /Lang /K 191 0 R /P 51 0 R /P 63 0 R /Pg 258 0 R (Photo by Kristoffer Tripplaar/AP). /K 26 /K 125 0 R /Rotate 0 << /S /LBody /Lang (EN-US) >> >> SAN JOSE - A federal grand jury has indicted Elizabeth A. Holmes and Ramesh Sunny Balwani, announced Acting United States Attorney Alex G. Tse, Federal Bureau of Investigation (FBI) Special Agent in Charge John F. Bennett; Food and Drug Administration (FDA) Commissioner Scott Gottlieb; and U.S. /Pg 255 0 R /S /P 160 0 obj << << endobj << Theranos is a now-defunct healthcare technology startup founded by disgraced Stanford drop-out Elizabeth Holmes . /Lang (EN-US) /S /LI Four years after the top two Theranos executives, Elizabeth Holmes and Ramesh "Sunny" Balwani, were first indicted together on a dozen federal fraud charges stemming from their time . 122 0 obj /P 8 0 R endobj endobj 392 0 obj /P 378 0 R /Rotate 0 /Pg 237 0 R /S /LBody 283 0 obj << << << /S /LBody 2 [null null 119 0 R null null null 120 0 R null null 41 0 R endobj /Rotate 0 /S /LBody null null 152 0 R null null] 337 0 obj endobj /Lang (EN-US) << /S /LBody 130 0 obj /S /LI Theranos CEO Elizabeth Holmes on her company and the landscape of U.S. diagnostic-lab industry. >> /Contents [497 0 R 498 0 R 499 0 R] /Pg 242 0 R << 69 0 obj << /Pg 235 0 R Elizabeth Holmes - Crime Museum /Lang (EN-US) /Pg 237 0 R 312 0 obj >> /Pg 239 0 R $1 million bail: Student accused of attacking teacher's aide over Nintendo Switch, Consumer confidence: Optimism of US consumers declined in February, reflecting fears of a recession. 363 0 obj /Pg 248 0 R /S /P The data presented on this page does not represent the view of Theranos and its employees or that of Zippia. /K 233 0 R endobj 244 0 obj 35 0 obj /K 180 0 R >> >> /K 145 0 R Theranos' mission is to make actionable information accessible to everyone at the time it matters most. /K 152 0 R 133 0 R null null null 134 0 R null null null 135 0 R null << /P 296 0 R /Pg 257 0 R /P 8 0 R /Type /Page >> endobj /S /P /MediaBox [0 0 612 792] /K 221 0 R /Parent 13 0 R >> /S /LI << << The . << /Pg 236 0 R /Pg 258 0 R Theranos' mission is to make actionable health information accessible to people everywhere in the world at the time it matters, enabling early detection and intervention of disease. /S /LBody 206 0 obj 85 0 obj /Type /Page endobj /S /LBody >> << /Pg 247 0 R endobj >> /Lang (EN-US) /S /LI << /Lang (EN-US) /K 14 /Tabs /S /P 270 0 R endobj 194 0 obj /Pg 258 0 R /K 166 0 R endobj 223 0 obj /P 8 0 R /Pg 235 0 R >> Instead, a vision made boundless by its sharp divide from reality and its extraordinarily narrow goals ended up only perpetuating a state of motivated blindness. >> /S /LI endobj << /P 8 0 R /Pg 250 0 R /P 8 0 R /Lang (EN-US) >> 376 0 obj The defendants claimed the analyzer was able to perform a full range of clinical tests using small blood samples drawn from a finger stick. /P 42 0 R >> /K 9 /Lang (EN-US) /MediaBox [0 0 612 792] /P 8 0 R >> endobj endobj /S /LBody /S /LBody << << >> /Rotate 0 317 0 obj /Annots [] /Lang (EN-US) << /Parent 11 0 R /K 33 >> /S /LBody endobj /K 131 0 R Theranos founder Elizabeth Holmes arrives at San Jose court over alleged fraud. << 187 0 obj >> /Pg 238 0 R /Pg 255 0 R /Type /Page 66 0 R 67 0 R 68 0 R 69 0 R] 5 0 obj /P 8 0 R Theranos stood as the next big breakthrough innovator in the healthcare industry offering an affirming achievement of the value of human ingenuity. /K 22 177 0 obj /Lang (EN-US) /S /LI /Pg 245 0 R /P 51 0 R endobj When he sentenced Holmes, U.S. District Judge Edward Davila pushed to April 27 her report date to a prison in Byron, Texas, so she could give birth to her second child before being incarcerated. /Pg 235 0 R >> /S /LBody This district, led by Silicon Valley, is at the center of modern technological innovation and entrepreneurial spirit; capital investment makes that possible. 172 0 obj << >> >> endobj /P 8 0 R /S /P 23 0 obj ] >> /P 50 0 R >> /Lang (EN-US) /CropBox [0 0 612 792] /P 48 0 R /Type /Page endobj endobj Pay at Theranos is significantly lower than some of its highest paying competitors, like. The Trial of Theranos's Elizabeth Holmes Opens /K 155 0 R /Lang (EN-US) 239 0 obj /Lang (DE-DE) /MediaBox [0 0 612 792] /Type /MCR Zippia Score 4.7. It included jury selection, opening statements, released text messages, and an unexpected . /Pg 235 0 R /K 10 endobj endobj /S /LBody /S /LI endobj 45 0 obj The indictment charges each defendant with two counts of conspiracy to commit wire fraud, in violation of 18 U.S.C. << Through these advertisements, the defendants explicitly represented to individuals that Theranoss blood tests were cheaper than blood tests from conventional laboratories to induce individuals to purchase Theranoss blood tests. 365 0 obj endobj /K 29 In reality, Theranos couldn't perform more than 12 tests on its Edison devices, former lab . The effects of cheating in the service of good are not only treacherous for those who cheat, but also for those who interact and deal with the cheaters. Initially she funded Real-Time Cures with her co. /Lang (EN-US) 105 0 R 106 0 R 107 0 R 108 0 R 109 0 R 35 0 R 36 0 R 37 0 R 38 0 R null /Resources 476 0 R /S /LI /Pg 248 0 R /Pg 250 0 R /CropBox [0 0 612 792] While some are vague affirmations, others can sharpen employees' minds and give them a sense of identity and belonging. 16 0 obj << << /P 362 0 R >> >> /Type /MCR /K [26 384 0 R] /P 381 0 R Mirage or Vision? Four Blind Spots at the Core of Theranos' Failure /K 12 Theranos' mission was "to make actionable health information accessible to people everywhere in the world, at the time they most need it." It was a lofty, inspiring, and valiantly unifying purpose, . 221 0 obj /S /LBody Investors who put a total of $632 million into Theranos in its latest funding round from 2014 to 2015 included " Rupert Murdoch and family-controlled Cox Enterprises Inc., -- [Cox family holdings . << >> /K 14 endobj Working At Theranos: Employee Reviews And Culture - Zippia 3 [null null 125 0 R null null 43 0 R null null 126 0 R null /P 360 0 R /Tabs /S /K 211 0 R endobj 204 0 obj << >> /P 8 0 R Learn about working at Theranos from employee reviews and detailed data on culture, salaries, demographics, management, financial, and more. /Parent 12 0 R /P 284 0 R << Doctors began using Theranos testing devices to diagnose patients and dispense medical advice. /S /LI /StructTreeRoot 3 0 R endobj /S /LBody /StructParents 20 /K 34 /Parent 14 0 R /Pg 248 0 R /P 8 0 R . /Type /MCR /Lang (EN-US) /P 356 0 R endobj >> /Lang (EN-US) 335 0 obj << /K 212 0 R /K 198 0 R << endobj << /Tabs /S /S /LI And at least one employee told the financial newspaper Theranos executivesdid not report test results that would have caused concerns about the machines accuracy. /Lang (EN-US) /Resources 492 0 R /K 209 0 R /Rotate 0 << >> Morever, Holmes needs to grow a . /S /LBody /Pg 238 0 R /S /P /CropBox [0 0 612 792] /Pg 242 0 R /K 213 0 R /S /L /S /P endobj endobj endobj /Parent 13 0 R endobj 4 0 obj >> /S /L Its unclear whether Theranos rise and fall will turn out to be a dazzling mirage of would-be business greatness, one of the most infamous stories of corporate fraud in the 21st century, or, an ironic reminder of the inescapable weakness of biased decision-making. /Pg 237 0 R 360 0 obj /P 290 0 R /S /LBody endobj /Lang (EN-US) endobj In addition, the defendants delivered to doctors and patients blood results that were inaccurate, unreliable, and improperly validated. She had a strong sense of conviction to her mission., Cheung quit after seven months on the job and filed a whistleblower complaint with the Centers for Medicare and Medicaid Services, alleging that the company used expired lab supplies for tests run on its proprietary Edison testing devices, which themselves had major stability, precision, and accuracy problems., I was uncomfortable processing patient samples, she said. >> endobj endobj Theranos founder Elizabeth Holmes, now a mother of two, is asking to delay her 11-year sentence for felony fraud so she can be at home with her two young children while she appeals the conviction. /Lang (EN-US) The Securities and Exchange Commission also brought civil fraud charges against Holmes and Balwani.
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