It included jury selection, opening statements, released text messages, and an unexpected . Theranos founder and CEO Elizabeth Holmes speaks at the Fortune Global Forum in San Francisco, California, on Monday, Nov. 2, 2015. 148 0 obj If convicted, the defendants face a maximum sentence of twenty (20) years in prison, and a fine of $250,000, plus restitution, for each count of wire fraud and for each conspiracy count. << Nies was hired at Theranos in March 2015 for $185,000 a year to be the senior manager of customer service and call center operations at the company's headquarters in Palo Alto, Calif., according . /P 8 0 R %PDF-1.5 /K 2 /Underline /Span << /Parent 12 0 R /K 130 0 R /K 28 /Lang (EN-US) We all knew it was coming. << In reality, Theranos couldn't perform more than 12 tests on its Edison devices, former lab . /P 39 0 R /S /P /Lang (EN-US) /K 14 /S /LI /Lang (EN-US) /S /P /K 207 0 R /S /Sect 3 min read. << 361 0 obj /K 21 /Pg 258 0 R 225 0 obj It became evident that audited financial statements hadn't been prepared since 2009. /Type /StructTreeRoot /S /LI That journey ended not, as it could have been, when the promises of its vision delivered their potential, but it ended when somebody, finally, brought reality into the picture. /K 210 0 R /Pg 256 0 R /P 48 0 R /K 230 0 R /Marked true /K 14 << endobj /K 18 << /Parent 5 0 R /P 354 0 R /S /LBody 40 0 obj 11 0 obj >> /Pg 243 0 R /Contents [485 0 R 486 0 R 487 0 R] /Type /Page >> >> << According to a statement from the SEC, "Theranos, Holmes, and Balwani made numerous false and misleading statements in investor presentations, product demonstrations, and media articles by which they deceived investors into believing that its key productcould conduct comprehensive blood tests from finger drops of blood, revolutionizing the . /MediaBox [0 0 612 792] >> Now a mom of two, ex-Theranos CEO Elizabeth Holmes wants to delay /Parent 11 0 R /S /LI >> Theranos is headquartered in Palo Alto, CA. /K 2 134 0 obj /S /LI /Pg 247 0 R Learn about working at Theranos from employee reviews and detailed data on culture, salaries, demographics, management, financial, and more. Recalls, Market Withdrawals and Safety Alerts, Inspections, Compliance, Enforcement, and Criminal Investigations, June 15, 2018: Theranos Founder and Former Chief Operating Officer Charged in Alleged Wire Fraud Schemes. 207 0 obj 165 0 R null null null 166 0 R null null null null 167 0 R /Rotate 0 << /P 381 0 R 274 0 obj /Contents [437 0 R 438 0 R 439 0 R] 138 0 obj The Company's clinical laboratory offers comprehensive laboratory tests. /S /LBody endobj /S /P << In November 2022, Holmes was sentenced to 135 months in prison for defrauding investors in the failed Silicon Valley startup that sought to revolutionize blood testing. >> /Pg 245 0 R /Pg 237 0 R While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. /StructParents 22 /S /LI /K 18 << << Its unclear whether Theranos rise and fall will turn out to be a dazzling mirage of would-be business greatness, one of the most infamous stories of corporate fraud in the 21st century, or, an ironic reminder of the inescapable weakness of biased decision-making. /S /LI /P 336 0 R endobj /K 224 0 R << 95 0 obj /P 8 0 R Last word: Your mission statement, and what it says about you /K 133 0 R /S /P << /Pg 244 0 R /Pg 251 0 R /Pg 252 0 R 1. endobj /Pg 258 0 R /P 50 0 R /StructParents 18 /P 295 0 R endobj >> They are also attracted by the fact that behind the innovation and entrepreneurship are rules of law that require honesty, fair play, and transparency. /K 22 /S /P /K 1 /K 37 /P 380 0 R 249 0 obj /K 34 >> endobj 260 0 obj endobj /Lang (EN-US) 340 0 obj /P 50 0 R /S /LI endobj endobj /K 134 0 R /P 361 0 R /Pg 257 0 R /Pg 258 0 R /Type /Page /Pg 245 0 R /MediaBox [0 0 612 792] endobj /P 8 0 R /Type /Pages 25 0 obj >> endobj >> 197 0 obj /P 8 0 R /S /LBody /Lang (EN-US) /Pg 240 0 R 315 0 obj endobj endobj endobj /Tabs /S 351 0 obj John Carreyrou writes the story of a gifted 19-year-old who founded a health . << endobj << /K 18 endobj /Parent 14 0 R >> >> /Rotate 0 /Pg 235 0 R << Postal Inspection Service (USPIS) Inspector in Charge Rafael Nuez. It's unclear . /InlineShape /Figure /K 8 /Tabs /S /Contents [473 0 R 474 0 R 475 0 R] /Pg 245 0 R endobj ", EX-THERANOS CEO ELIZABETH HOLMES PROVIDING OWN DEFENSE IN CIVIL SUIT: REPORT. /P 54 0 R << Kraft Heinz Mission and Vision Statement Analysis endobj /P 351 0 R /S /P /Pg 258 0 R 180 0 obj >> /Lang (EN-US) /K 223 0 R /Resources 464 0 R /Pg 235 0 R /Type /Pages /Filter /FlateDecode endobj /Tabs /S endobj /P 50 0 R << 196 0 obj /Lang (EN-US) 133 0 obj null null 162 0 R null null null 163 0 R null null] >> Theranos is ranked #71 on the Best Start-up Companies to Work For in America list. endobj << 123 0 R null null null 124 0 R null null] << /Pg 250 0 R endobj /Lang (EN-US) endobj /K 14 /K 10 169 0 obj PDF 510(k) SUBSTANTIAL EQUIVALENCE DETERMINATION - Food and Drug Administration /S /LI /Pg 252 0 R 387 0 obj 33 0 obj /Pg 235 0 R /Lang (EN-US) endobj << /K 218 0 R /Pg 254 0 R >> /K 6 endobj /S /P << Elizabeth Holmes and Theranos: How "The Change in Healthcare" Turned 1 << /Rotate 0 >> 2 0 obj /Lang (EN-US) /Lang (EN-US) endobj endobj >> >> 195 0 obj /S /LI >> /Pg 235 0 R This material may not be published, broadcast, rewritten, or redistributed. >> << >> /Rotate 0 /S /LBody << /K 18 endobj /Resources 424 0 R /Lang (EN-US) << /S /P null] The mission statement conveys no values such as honesty, transparency, or integrity. << endobj 382 0 obj /S /LI >> /P 262 0 R /S /LBody /Lang (EN-US) >> /Lang (EN-US) /P 8 0 R /P 50 0 R /S /LBody /S /LI /Pg 248 0 R 395 0 obj 350 0 obj /K 14 Theranos | LinkedIn >> /S /LBody 243 0 obj /Parent 11 0 R Despite persistent losses, Holmes salary increased from $200,000 to $400,000, Yam said. endobj >> /P 50 0 R /P 8 0 R 213 0 obj >> /K 22 75 0 obj 126 0 obj /S /LBody /Length 502 0 R /Pg 240 0 R Balwani, who was convicted on 12 counts of fraud and conspiracy and sentenced to nearly 13 years in prison, is also seeking to remain free amidan appeal. /P 322 0 R By Elizabeth Lopatto / @ mslopatto. /CropBox [0 0 612 792] Elizabeth Holmes (Reuters); Ramesh "Sunny" Balwani (Getty Images). /P 51 0 R /Pg 254 0 R >> The employee data is based on information from people who have self-reported their past or current employments at Theranos. /Lang (EN-US) /K 6 Since this form of unethical behavior may lack the pangs of guilt and/or shame that generally provide people with a certain amount of self-restraint and hesitation, it can be difficult for others to suspect any bad conduct. << /K 17 370 0 obj /K 178 0 R << /K 6 /Pg 250 0 R 332 0 obj /Annots [] /Pg 235 0 R /S /LBody (Photo by Kristoffer Tripplaar/AP). The defendants claimed the analyzer was able to perform a full range of clinical tests using small blood samples drawn from a finger stick. /P 50 0 R /Pg 249 0 R /Lang (EN-US) >> /Type /Page >> uuid:08e7f9c5-06b3-4447-b9e6-d8f448ec8b85 << In fact, Yam relied heavily on Holmes for financial projections. /Rotate 0 endobj << /MediaBox [0 0 612 792] /P 8 0 R /K [26 384 0 R] Yam said that Theranos lost $16.2 million in 2010, $27.2 million in 2011, $57 million in 2012, and $92 million in 2013. /P 51 0 R 63 0 obj 173 0 obj /MCID 2 /Lang (EN-US) In November 2022, Holmes was sentenced to 135 months in prison for defrauding investors in the failed Silicon . /P 44 0 R << The indictment alleges Holmes and Balwani defrauded doctors and patients by making false claims concerning Theranoss ability to provide accurate, fast, reliable, and cheap blood tests and test results, and through omissions concerning the limits of and problems with Theranoss technologies. << /Pg 247 0 R >> 73 0 obj endobj /K 148 0 R endobj >> /P 59 0 R /Pg 235 0 R >> June 15, 2018: Theranos Founder and Former Chief Operating Officer >> /S /LBody >> /Parent 13 0 R endobj /P 8 0 R << The rise and fall of Theranos: A timeline - CNN << Theranos Was Losing Hundreds Of Millions As Elizabeth Holmes Talked Up endobj >> Entrepreneurship lives in the realm of threading between the present and the future. /P 55 0 R 178 0 obj /S /LBody /K [273 0 R 274 0 R] /S /LI /P 337 0 R Just 12 tests were performed on Edison devices, and the Edison analyzer could only run one type of test for one patient at a given time, she said. << /P 352 0 R 300 0 obj >> /K 174 0 R Doctors began using Theranos testing devices to diagnose patients and dispense medical advice. For example, with respect to investors, defendants performed technology demonstrations during which defendants intended to cause potential investors to believe blood tests were being conducted on Theranoss proprietary analyzer when, in fact, the analyzer really was running a null protocol and was not testing the potential investors blood. /P 267 0 R >> >> /P 48 0 R /S /LBody The indictment further alleges that Holmes and Balwani knew that many of their representations about the analyzer were false. /P 287 0 R endobj We just didn't know what new form it would take. endobj >> /P 63 0 R /S /LBody /S /L /P 171 0 R /K 222 0 R /P 8 0 R endobj /Pg 249 0 R Powered and implemented byFactSet Digital Solutions. /Type /Page /K 151 0 R << /S /LI endobj /S /P /Lang (EN-US) >> Mark Zuckerberg's Facebook mission statements hide his real aim /P 378 0 R 206 0 R null null null 207 0 R null null null 208 0 R null /K [18 385 0 R] >> endobj << Elizabeth Holmes speaks on stage at the Glamour Women of the Year Awards where she receives an award, in New York, NY on Nov. 9, 2015. Everything you need to know about the Theranos scandal Elizabeth Holmes' trial begins with opening statements - CNN 105 0 R 106 0 R 107 0 R 108 0 R 109 0 R 35 0 R 36 0 R 37 0 R 38 0 R null /K 2 /MediaBox [0 0 612 792] << /K 22 305 0 obj Consider Elizabeth Holmes obsession with producing as small a micro-Lab as possible or with using just a few drops of blood in order to conduct the myriad of tests Theranos promised. 179 0 obj 312 0 obj The far-reaching nature of Theranos promises pulled stakeholders attention towards the end state rather than the more practical and operational nature of the challenges that needed consideration in order to successfully implement the purported technological approach. /P 40 0 R >> /P 8 0 R /K 217 0 R >> Theranos is in the biotechnology industry. /Pg 255 0 R >> /P 355 0 R /P 48 0 R /K 192 0 R endobj /Annots [] /K 18 314 0 R 315 0 R 316 0 R 317 0 R 318 0 R 319 0 R 320 0 R 321 0 R 322 0 R 323 0 R << /K 10 /Lang (EN-US) endobj /P 59 0 R /P 318 0 R /Lang (EN-US) /StructParents 0 At the time, Holmes, 39,was a mother of a 1-year-old son and pregnant with another child. /K 2 /P 360 0 R /S /LBody << null null 152 0 R null null] /P 8 0 R endobj