The fraud charges against Theranos founder Elizabeth Holmes follow an SEC probe prompted by revelations the company used its blood-testing technology for only a fraction of the tests it offered in Walgreens storeshttp://on.wsj.com/2FzXvSA
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Our broken legal system:
#ElizabethHolmes of#Theranos defrauds investors of $700 million but will serve zero time behind bars while our prisons are filled with young African American men for stealing pennies. Shameful! -
Or John Corzine stealing 1 billion from investors. No fines no jail time. I don’t know that broken applies, corrupt is a more accurate fit.
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The whole world wanted a young, female, Stanford dropout (bio)tech founder to succeed and become the female poster(golden) child so badly that they ignored all the warning signs just to get a woman there. This is not Equality, this is fraud.
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They might sell her 18.9 mill shares. We don’t know yet.
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I would imagine that
#Theranos stock is all but worthless at this point. Selling it probably won't make all that much money back. - 1 more reply
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A backup plan would come in handy now.https://www.inc.com/deborah-petersen/elizabeth-holmes-avoid-backup-plans.html …
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So... $700m fraud doesn't mean going to jail? I'm confused.
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..what about their high profile Board of Directors - they should never be allowed to sit of any board. Appalling that there is no mention of them.
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Tyler Shultz te whistleblower also said he wanted to shield reputation of former Secretary of State George Shultz, a Theranos director and his grandfather; $400,000 in legal fees. Incredible.
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Man - she got off so easily. Remember when Martha Stewart went to jail over about 200k worth of trades? Bonkers.
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In the 21st century update to "The Emperor's New Clothes," the protagonist opted for black turtlenecks. In any case, a parable of willful blindness and suspension of disbelief by a raft of folks that should have known better. Kudos to
@WSJ for digging this story out!Thanks. Twitter will use this to make your timeline better. UndoUndo
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