Holmes faced fraud charges from "summary" of Bad Blood by JOHN. CARREYROU
Holmes faced fraud charges after it became clear that she had misled investors, patients, and business partners about the capabilities of Theranos's technology. The Securities and Exchange Commission (SEC) accused her of orchestrating an elaborate, years-long fraud. According to the SEC, Holmes and former Theranos president Ramesh "Sunny" Balwani deceived investors about the company's technology, business, and financial performance. They claimed that their blood-testing devices were able to conduct a full range of tests using just a few drops of blood when, in reality, the technology was unreliable and inaccurate. Holmes and Balwani allegedly raised more than $700 million from investors by making false claims about the company's technology and revenue. They also misled patients by promoting their blood tests as accurate and reliable, despite knowing that the results were often incorrect. Additionally, they deceived business partners by falsely claiming that their...
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