I posted this in the wrong thread but then realized it works in every thread.Originally Posted by devidee
I posted this in the wrong thread but then realized it works in every thread.
The SEC case was a civil action not criminal.
The Blood Unicorn Theranos Was Just a Fairy Tale
Founder Elizabeth Holmes spun a beautiful fantasy for investors, not so much for patients.
https://www.bloomberg.com/view/artic...its-blood-test
Theranos and Holmes settled with the SEC without admitting or denying the allegations; Balwani will apparently fight the accusations. Holmes agreed to pay a $500,000 penalty to the SEC, "return" 18.9 million Theranos shares to the company and relinquish her super-voting control, and be barred from serving as a public-company director or officer for 10 years.If she knew she was committing "massive fraud".Unlike most people who run nine-digit frauds, she never took much money out: The SEC notes that she "was paid a salary of approximately $200,000 to $390,000 per year between 2013 and 2015" and "has never sold any of her Theranos stock." Forbes once estimated Holmes's net worth at $4.5 billion, but essentially all of that was in stock that is now probably worthless. In a very real sense she was the biggest victim of her own fraud.
Why didn't she take tens or hundreds of millions when she could've gotten away with it?
I actually get the impression that Holmes is more of a delusional nutcase (hence not attempting to profit much from the scam), whereas president Ramesh Balwani was a straight-up scammer and criminal.
Balwani was the one who was threatening employees who started to notice that the testing technology was faulty and fraudulent.
Top executives of publicly traded companies can commit “massive fraud” by massively tricking public investors into believing the firm is way more valuable than it really is. The house of cards they built just happened to collapse sooner than she planned to cash in.The SEC case was a civil action not criminal.
The Blood Unicorn Theranos Was Just a Fairy Tale
Founder Elizabeth Holmes spun a beautiful fantasy for investors, not so much for patients.
https://www.bloomberg.com/view/artic...its-blood-test
Theranos and Holmes settled with the SEC without admitting or denying the allegations; Balwani will apparently fight the accusations. Holmes agreed to pay a $500,000 penalty to the SEC, "return" 18.9 million Theranos shares to the company and relinquish her super-voting control, and be barred from serving as a public-company director or officer for 10 years.If she knew she was committing "massive fraud".Unlike most people who run nine-digit frauds, she never took much money out: The SEC notes that she "was paid a salary of approximately $200,000 to $390,000 per year between 2013 and 2015" and "has never sold any of her Theranos stock." Forbes once estimated Holmes's net worth at $4.5 billion, but essentially all of that was in stock that is now probably worthless. In a very real sense she was the biggest victim of her own fraud.
Why didn't she take tens or hundreds of millions when she could've gotten away with it?
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Now we're getting to the good stuff...
Elizabeth Holmes and scumbag Sunny Balwani have been indicted.
http://money.cnn.com/2018/06/15/tech...nos/index.html
about time
Druff, you’re likely to get a kick out of the WSJ reporter interviewed in this vid describing how Elizabeth Holmes convinced so many powerful, well-connected old school conservatives to support her in building up Theranos.
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This will be a great opportunity to witness the two tiered judicial system in action.
Ms Holmes you poor thing, you're going to get raped by the media and the courts. She's going to be tried in the standard judicial system not the Jewdicial system. To make matters worse those in power have a deep seated irrational hate for blondes like her.Holmes Name Meaning. English (chiefly central and northern England): variant of Holme. Scottish: probably a habitational name from Holmes near Dundonald, or from a place so called in the barony of Inchestuir. Scottish and Irish: Anglicized form of Gaelic Mac Thomáis, Mac Thómais (see McComb).
Judicial system: Shrkeli, Manafort Cosby Blagojevich Traficant martha stewart Kerik, Don Lapre ...
Jewdicial system: Baazov Bronfman Sisters Kushner Bitar Scheinberg Icahn Milchin Mnuchin, Strauss-Kahn Bibi Roboshkin Soros Epstein Libby Silverstein. Saving n loan $500 Billion owed by the taxpayers
Michael Milken Ivan Boesky, Marty Siegel, and Dennis Levine... The mercer family, Felix Sater
To read more sweetheart deals of years past.
https://www.big-lies.org/jews/jews-f...am-pierce.html
Who has Mueller charged and in some cases sentenced so far?
http://www.foxnews.com/politics/2018...be-so-far.html
same pattern
Compare to the one person who's admitted to rigging the election, Debbie Wasserman Schultz
Hey Goy, check your white privilege.
MORE LIKE THE JEWDICIAL SYSTEM RIGHT FPS
Theranos dissolving
https://www.wsj.com/articles/blood-t...lve-1536115130
this lady will be back to roll people. scammers gonna scam
http://www.miraclecovers.com
"Donk down, that’s what you say to someone after they have lost 28K straight?" - Phil Hellmuth, online
Sigh. I hate WSJ and their fucking paywall.
Anyway, I see that article was written today by John Carreyou, who was the one responsible for Theranos' downfall in the first place. Appropriate.
No worries, just put http://facebook.com/l.php?u= right before the URL of any WSJ article you want to read.
So in this case:
http://facebook.com/l.php?u=https://...lve-1536115130 and then click on Follow Link.
Article is very short though.
I use outline to get around paywalls; go on the site, insert link, and good to go:Sigh. I hate WSJ and their fucking paywall.
Anyway, I see that article was written today by John Carreyou, who was the one responsible for Theranos' downfall in the first place. Appropriate.
https://outline.com/kRrnNH
http://www.miraclecovers.com
"Donk down, that’s what you say to someone after they have lost 28K straight?" - Phil Hellmuth, online
BBC’s report
https://www.bbc.co.uk/news/business-45418615
Just about every news website has a paywall.Sigh. I hate WSJ and their fucking paywall.
Anyway, I see that article was written today by John Carreyou, who was the one responsible for Theranos' downfall in the first place. Appropriate.
Fuck'em, I doubt they make enough money for it to be worthwhile. I'm surprised that most magazines and newspapers aren't bankrupt.
Theranos is finally going away for good
https://nypost.com/2018/09/05/theran...away-for-good/
Theranos, the once-celebrated Silicon Valley blood testing firm, is about to dissolve itself months after top executives were indicted for defrauding investors, the Wall Street Journal reported on Wednesday.
The move follows a failed attempt by Theranos to sell itself, during which it reached out to more than 80 potential buyers through Jefferies Group, the Journal reported, citing an email to shareholders from chief executive David Taylor.
“Unfortunately, none of those leads has materialized into a transaction. We are now out of time,” Taylor wrote in the email, a copy of which was published by the WSJ (paywall).
The firm will attempt to pay unsecured creditors its remaining cash in the coming months, the Journal reported, adding that big-name investors had lost about $1 billion.
Neither Taylor nor representatives for Palo Alto, California-based Theranos immediately responded to Reuters’ requests for comment.
Theranos founder Elizabeth Holmes, who started the company when she was 19, was celebrated as a rising Silicon Valley star until it became clear that many of the claims about the company’s supposedly revolutionary blood test were bogus.
In June this year, Holmes and former Theranos president Ramesh “Sunny” Balwani were indicted on charges that they engaged in schemes to defraud investors, doctors and patients.
They used advertising and solicitations to encourage doctors and patients to use Theranos’s blood testing laboratory services despite knowing the company could not produce accurate and reliable results consistently, prosecutors had said.
Theranos was in default under its credit facility with Fortress Investment Group, Taylor said in the letter.
He said the company was attempting to reach an agreement with Fortress to give it ownership of Theranos’s patents but leaving its remaining cash of about $5 million for distribution to other unsecured creditors.
Besides Fortress, Theranos owes at least $60 million to unsecured creditors, Taylor said. “Because the company’s cash is not nearly sufficient to pay all of its creditors in full, there will be no distributions to shareholders,” he added.
The company aims to seek board and shareholder consent for the Fortress settlement and corporate dissolution later this week and proceed with the actions starting Monday, Taylor said.
On 60 minutes now, she sounds like a man
http://www.miraclecovers.com
"Donk down, that’s what you say to someone after they have lost 28K straight?" - Phil Hellmuth, online
LOLz...in the post Enron world those are 3 words the C-level suite boys and girls aren't allowed to say anymore...
Elizabeth should hook up with Howard. Im sensing a love connection.
http://www.miraclecovers.com
"Donk down, that’s what you say to someone after they have lost 28K straight?" - Phil Hellmuth, online
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