This blog post was written by DougL. Edits provided by friends. AI was not used to write or edit it. Browser-based technology with generative AI and ChatGPT was used to fact check. Elizabeth Holmes, the disgraced Theranos founder, reports to prison today where she will serve an 11-year sentence for fraud. Holmes and her partner (in crime) Ramesh Balwani were sentenced on criminal charges related to wire fraud and conspiracy to commit wire fraud. By now we all know about the charges, the scam and the blatant defrauding of investors. She and Balwani were also ordered to pay $452 million in restitution to victims of the firm's fraudulent blood-testing devices. Balwani reported to prison last month and will serve nearly 13 years in prison.
Fraud in Startups
Fraud in Startups
Fraud in Startups
This blog post was written by DougL. Edits provided by friends. AI was not used to write or edit it. Browser-based technology with generative AI and ChatGPT was used to fact check. Elizabeth Holmes, the disgraced Theranos founder, reports to prison today where she will serve an 11-year sentence for fraud. Holmes and her partner (in crime) Ramesh Balwani were sentenced on criminal charges related to wire fraud and conspiracy to commit wire fraud. By now we all know about the charges, the scam and the blatant defrauding of investors. She and Balwani were also ordered to pay $452 million in restitution to victims of the firm's fraudulent blood-testing devices. Balwani reported to prison last month and will serve nearly 13 years in prison.