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) is an American entrepreneur and the founder and former CEO of Theranos, a now defunct company known for its unlikely claims to have revolutionized blood testing using surprisingly small volumes of blood such as from a fingerprick. Securities and Exchange Commission charged Theranos and Holmes with deceiving investors by "massive fraud" through false or exaggerated claims about the accuracy of her blood-testing technology; Holmes settled the charges by paying a 0,000 fine, returning shares to the company, relinquishing her voting control of Theranos, and being barred from serving as an officer or director of a public company for ten years.
The decline of Theranos began in 2015, when a series of journalistic and regulatory investigations revealed doubts about the company's technology claims, and whether Holmes had misled investors and the government. In June 2018, a federal grand jury indicted Holmes and former Theranos chief operating officer Ramesh Balwani on nine counts of wire fraud and two counts of conspiracy to commit wire fraud for distributing blood tests with falsified results to consumers.
Other reported ongoing actions include civil and criminal investigations by the U. Most of the remaining employees were laid off in August 2018.
On September 5, the company announced that it has begun the process of formally dissolving, with its remaining cash and assets to be distributed to its creditors.
This was the first serious criticism of Theranos in the press, and a further series of articles by Carreyrou followed with more damning details.
Holmes denied all the claims, calling the newspaper a "tabloid" and promising the company would publish data on the accuracy of its tests.
On June 15, 2018, following an investigation by the U. Attorney's Office in San Francisco that lasted more than two years, a federal grand jury indicted Holmes and former Theranos chief operating officer and president Ramesh "Sunny" Balwani on nine counts of wire fraud and two counts of conspiracy to commit wire fraud. Prosecutors allege that Holmes and Balwani engaged in two criminal schemes, one to defraud investors, the other to defraud doctors and patients.
After the end of her freshman year, Holmes worked in a laboratory at the Genome Institute of Singapore testing for severe acute respiratory syndrome through the collection of blood samples with syringes.
A movie based on the book is in development, with Jennifer Lawrence in the role of Holmes and Adam Mc Kay serving as writer and director.
In January 2019, ABC News, Nightline, and Rebecca Jarvis released a podcast and documentary about the Holmes story called The Dropout.
In July 2016, CMS banned Holmes from owning, operating, or directing a blood-testing service for a period of two years. Shortly thereafter, Walgreens ended its relationship with Theranos and closed its in-store blood collection centers.
The FDA also ordered the company to cease using its Capillary Tube Nanotainer device, one of its core inventions.