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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: 1, Insightful) by Anonymous Coward on Monday June 18 2018, @03:18AM (1 child)
My dog pointed out to me the other day that there's a resemblance between Holmes & Mark Zuckerberg.
(Score: 2) by Thexalon on Monday June 18 2018, @04:11PM
How did the pooch do that? By pissing on both of them? If so, give him a treat for me!
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