U.S. Files Criminal Charges Against Theranos’s Elizabeth Holmes, Ramesh Balwani
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Re: U.S. Files Criminal Charges Against Theranos’s Elizabeth Holmes, Ramesh Balwani
#2DOJ indictment: https://www.justice.gov/usao-ndca/pr/theranos-founder-and-fo...
Re: U.S. Files Criminal Charges Against Theranos’s Elizabeth Holmes, Ramesh Balwani
#3DOJ indictment: https://www.justice.gov/usao-ndca/pr/theranos-founder-and-fo...
"The defendants are charged with two counts of conspiracy to commit wire fraud and nine counts of wire fraud. According to the indictment returned yesterday and unsealed today, the charges stem from allegations Holmes and Balwani engaged in a multi-million dollar scheme to defraud investors, and a separate scheme to defraud doctors and patients. Both schemes involved efforts to promote Palo Alto, Calif.-based Theranos."
Re: U.S. Files Criminal Charges Against Theranos’s Elizabeth Holmes, Ramesh Balwani
#4Oh good. Glad the investigation finally got some charges.
Re: U.S. Files Criminal Charges Against Theranos’s Elizabeth Holmes, Ramesh Balwani
#5if WSJ is behind a paywall:
Re: U.S. Files Criminal Charges Against Theranos’s Elizabeth Holmes, Ramesh Balwani
#6Does anybody know if Theranos got started with at least an idea how to accomplish what they wanted to do? From what I have heard in interviews they started with the thought "Doing xxx would be super useful" but didn't have an approach for accomplishing this but instead took in money and tried to figure it out. It's like me saying "An antimatter drive would revolutionize space exploration" and starting to collect money but without even the faintest idea how to produce one.
Does anyone know? Did Holmes have any insight that caused her and the investors to believe she could do the blood tests?
Re: U.S. Files Criminal Charges Against Theranos’s Elizabeth Holmes, Ramesh Balwani
#7It's about time, what these two did is disgusting and shameful.
Re: U.S. Files Criminal Charges Against Theranos’s Elizabeth Holmes, Ramesh Balwani
#8Does anybody know if Theranos got started with at least an idea how to accomplish what they wanted to do? From what I have heard in interviews they started with the thought "Doing xxx would be super useful" but didn't have an approach for accomplishing this but instead took in money and tried to figure it out. It's like me saying "An antimatter drive would revolutionize space exploration" and starting to collect mone…
After the company launched professionals in the medical testing said it was impossible. I believe it was even posted to HN. They stated it was impossible to get the results they would get from the amount of blood given.
Re: U.S. Files Criminal Charges Against Theranos’s Elizabeth Holmes, Ramesh Balwani
#9So much for the conspiracy theory people were floating here about her being protected by her influential family and powerful connections.
Re: U.S. Files Criminal Charges Against Theranos’s Elizabeth Holmes, Ramesh Balwani
#10Does anybody know if Theranos got started with at least an idea how to accomplish what they wanted to do? From what I have heard in interviews they started with the thought "Doing xxx would be super useful" but didn't have an approach for accomplishing this but instead took in money and tried to figure it out. It's like me saying "An antimatter drive would revolutionize space exploration" and starting to collect mone…
They had a good idea of what they wanted to do (blood tests using very thin needles) but never successfully figured out how to accomplish that with the level of accuracy required.
Most Medical professionals believe that what they wanted to do was simply impossible from a biological perspective due to the natural variations of blood content. It would have been like trying to determine traffic on a freeway by taking a brief glance through a tiny slit in a piece of paper.(This is why they draw so much blood for testing, to try and get a fairly representative sample.)