Theranos , the fraudulent rakehell - examination startup which has despite an incredible amount of wrongdoing do to stay an extant corporate entity until now , will before long dissolve .
agree to a report in theWall Street Journal , the company has apprise shareholders that Theranos will before long be dissolved . Whatever assets the company has left will be used to ante up back remaining unsecured creditor ( though presumably there is not all that much remaining ) .
Theranos , which purported to have formulate a line of line of descent - testing machines capable of run complicated test on just a individual finger prick of ancestry , was in reality a fraud on a stupefying scale . Despiteraising some $ 900 millionand achieving a $ 10 billion evaluation , its technology never worked . The trial it did run were so haphazard the Centers for Medicare and Medicaid Services concluded the troupe had putnumerous patient at hazard .
After the charade unraveled and the Securities and Exchange Commision load its Steve Jobs - imitate CEO Elizabeth Holmes and former president Ramesh Balwaniwith “ monolithic ” civic pretender , the companionship laid offnearly all of its 125 remaining staffin April 2018 .
In June , an incredibly overconfident Holmes was briefly reported as interested instarting another company , despite the SEC resolution preventing her from serving as an officer of a public house for a decade . sure hoi polloi like venture capitalist Tim Draper still seemed dumb enough to be uncoerced togive her another injection . John Carreyrou , the journalist who helped take the ship’s company down with a series of explosive articles , told Vanity Fairin June that Holmes had “ sociopathic trend ” and viewed herself as the victim of incompetent faculty and plan of attack - dog journalists .
But day subsequently , a federal grand juryindicted Holmes and Balwanion criminal fraud charge , which would seem to put a block on those ambitions . That trial is still upcoming , with no reading of any “ Theranos is beat , long live Theranos ” ending for Holmes .
[ Wall Street Journal ]
Elizabeth HolmesHealthScienceTechnologyTheranos
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