$700.00M Involved

Theranos Blood Testing Fraud

🇺🇸 United States securities fraud Convicted
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Date Discovered

October 16, 2015

Organization

Theranos

Victims

1,000,000

Perpetrators

Elizabeth Holmes, Ramesh Balwani

Legal Outcome

Holmes convicted, sentenced to 11+ years. Balwani sentenced to 13 years.

Economic Impact

Company valued at $9 billion became worthless, undermined trust in Silicon Valley startups.

Regulatory Changes

FDA laboratory testing oversight, due diligence improvements.