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Theranos, CEO Holmes, and Former President Balwani Charged with Fraud

sec.gov

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Re: Theranos, CEO Holmes, and Former President Balwani Charged with Fraud

#11

Post by vasilipupkin »

nathanaldensr wrote: post #2

Theranos and Holmes have agreed to settle the fraud charges levied against them. Holmes agreed to pay a $500,000 penalty, be barred from serving as an officer or director of a public company for 10 years, return the remaining 18.9 million shares that she obtained during the fraud, and relinquish her voting control of Theranos by converting her super-majority Theranos Class B Common shares to Class A Common shares. Du…

SEC doesn't put people in prison, it can refer to Justice Department for prosecution. Whether it does or not, depends on the circumstances of the case. They prefer quick resolution rather than years of litigation.

Re: Theranos, CEO Holmes, and Former President Balwani Charged with Fraud

#12

Post by newnewpdro »

charlesdm wrote: post #10
megadeth wrote: post #7

Won’t see a day of jail time while Shkrelli gets 7 years.

Martin Shkreli was, honest to god, an idiot. He got several chances to "kiss the ring" and show remorse, and what did he do? He put some extra oil on the fire and kept acting like an idiot until the very last moment. Sometimes you need to realise when to fold and suck it up.

Was?

Re: Theranos, CEO Holmes, and Former President Balwani Charged with Fraud

#14

Post by daxorid »

charlesdm wrote: post #10
megadeth wrote: post #7

Won’t see a day of jail time while Shkrelli gets 7 years.

Martin Shkreli was, honest to god, an idiot. He got several chances to "kiss the ring" and show remorse, and what did he do? He put some extra oil on the fire and kept acting like an idiot until the very last moment. Sometimes you need to realise when to fold and suck it up.

Alternative take: it's disgusting and offensive to the foundational concept of blind justice that punishment is more highly correlated with charisma and obsequiousness to judges than it is to actual crimes committed.

Re: Theranos, CEO Holmes, and Former President Balwani Charged with Fraud

#15

Post by leggomylibro »

daxorid wrote: post #8
nathanaldensr wrote: post #2

Theranos and Holmes have agreed to settle the fraud charges levied against them. Holmes agreed to pay a $500,000 penalty, be barred from serving as an officer or director of a public company for 10 years, return the remaining 18.9 million shares that she obtained during the fraud, and relinquish her voting control of Theranos by converting her super-majority Theranos Class B Common shares to Class A Common shares. Du…

> shouldn't these two simply be in prison right now? Compare and contrast with Shkreli sentencing. Some animals are more equal than others.

Well, Holmes and Balwani didn't actively and loudly antagonize most of the country.

Most rich criminals know that when you scoff at the law, you should do it quietly.

Re: Theranos, CEO Holmes, and Former President Balwani Charged with Fraud

#18

Post by desireco42 »

nathanaldensr wrote: post #2

Theranos and Holmes have agreed to settle the fraud charges levied against them. Holmes agreed to pay a $500,000 penalty, be barred from serving as an officer or director of a public company for 10 years, return the remaining 18.9 million shares that she obtained during the fraud, and relinquish her voting control of Theranos by converting her super-majority Theranos Class B Common shares to Class A Common shares. Du…

I wish we could do this to politicians, once caught in lie and fraud, bar them from taking any public office for 10 yrs :).

I agree she got away lightly.

Re: Theranos, CEO Holmes, and Former President Balwani Charged with Fraud

#20

Post by charlesdm »

daxorid wrote: post #14
charlesdm wrote: post #10

Earlier quoted context omitted.

Martin Shkreli was, honest to god, an idiot. He got several chances to "kiss the ring" and show remorse, and what did he do? He put some extra oil on the fire and kept acting like an idiot until the very last moment. Sometimes you need to realise when to fold and suck it up.

Alternative take: it's disgusting and offensive to the foundational concept of blind justice that punishment is more highly correlated with charisma and obsequiousness to judges than it is to actual crimes committed.

It comes down to basic human decency. Of which he has none. And that does not make him very likeable. You can raise drug prices like he did and do it in a moral way. He was basically laughing in people's faces about what he did.

I agree courts, juries and judges are to be neutral, but a person like him just ends up getting under most people's skin. Even if there was no rational decision to go hard on him, I wouldn't be surprised if people subconsciously make that decision.

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