Submitted via IRC for BoyceMagooglyMonkey
Elizabeth Holmes steps down as Theranos CEO as DOJ levels charges
CNBC is reporting that Elizabeth Holmes has stepped down from her position as CEO of Theranos and the Department of Justice has indicted her on alleged wire fraud. Both the company and Holmes have been embroiled in scandal following reports that the blood tests it claimed to be working on weren't actually effective. Earlier this year, the Securities and Exchange Commission charged Holmes and Theranos with fraud.
[...] Along with Holmes, Ramesh "Sunny" Balwani, former president of Theranos, is being charged by the DOJ as well. Both Holmes and Balwani appeared before US Magistrate Judge Susan van Keulen today where they were arraigned on nine counts of wire fraud and two counts of conspiracy to commit wire fraud. [...] CNBC reports that Holmes will still chair Theranos' board and the company's general counsel, David Taylor, has been appointed CEO. If convicted, Holmes and Balwani face a maximum prison sentence of 20 years, a $250,000 fine and restitution for each count of wire fraud.
(Score: 4, Insightful) by Snotnose on Monday June 18 2018, @12:02AM
When your company implodes beneath you. Now we see where the congressweasels decide to sink their teeth. Considering her business model was the wave of the future, and our ass fucking clown monkeys, um, congresscritters, are really good at seeing where the money flows, I'm gonna guess she gets a slap on the wrist with the admonition "hide it better next time".
When the dust settled America realized it was saved by a porn star.