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Thread: Meet Theranos, Inc. – The Blood Testing Company with Henry Kissinger and a Cadre of Military a

  1. #1

    Meet Theranos, Inc. – The Blood Testing Company with Henry Kissinger and a Cadre of Military a

    Meet Theranos, Inc. – The Blood Testing Company with Henry Kissinger and a Cadre of Military and Political “Elite” on its Board
    “So who could argue with that story right? A bright young prodigy emerges from Silicon Valley, drops out of Stanford and ten years later develops a product that could disrupt the healthcare industry for the better. So what’s the catch? Well, as the Wall Street Journal itself noted later on in that very same article:
    ”Ms. Holmes declines to discuss Theranos’s future plans, though one may speculate. There could be military applications in the battlefield, especially given the numerous framed American flags across the Theranos office and the presence on its corporate board of retired Gens. Jim Mattis and Gary Roughead, former Defense Secretary Bill Perry and former Secretary of State George Shultz.
    “It was this paragraph that raised a red flag for me back then, but I more or less brushed it off and forgot about the story. Until today, when I came across an article by Robert Wenzel titled, What is Henry Kissinger and Gang Up To Now? It was here that I realized there are far more shady members of the board that was initially reported. We can now add to the list:




    • Henry Kissinger
    • Richard Kovacevich- who served as the Chief Executive Officer of Wells Fargo & Company from 1998–2007 and Chairman of the Board from 2001-2009.
    • William Perry- Former Secretary of Defense
    • Riley P. Bechtel -Chairman of the Board and a Director of Bechtel Group, Inc
    • Bill Frist- Former U.S. Senate Majority Leader
    • Samuel Nunn- Served as a United States Senator from Georgia for twenty-four years and as Chairman of the Senate Armed Services Committee




    So...hm...Why?



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  3. #2

    Are the Wall Street Journal's allegations about Theranos true?

    http://fortune.com/2015/10/15/theran...th-holmes-wsj/

    Speaking as someone who, in a June 2014 cover story, helped bring the blood diagnostic company Theranos and its 31-year-old founder Elizabeth Holmes to prominence, I found this morning’s 3700-word, front-page, Wall Street Journal article by John Carreyrou deeply disturbing.

    As I mentioned in my original story, private investors have invested at least $400 million in the ostensibly disruptive company, and have given it a $9 billion valuation. Since then, Holmes has been featured on the cover of Forbes, been profiled in The New Yorker, been interviewed by Charlie Rose, and she has been given a host of awards and honors—including being named to the Harvard Medical School Board of Fellows. All of that has been called into question by the Wall Street Journal‘s allegations.

    In my view, the article’s key revelations—assuming they are true, which Theranos vociferously, but only obliquely, denies—are the following.

    The company “does the vast majority of its tests with traditional machines bought from companies like Siemens AG.” Obviously, that doesn’t sound very disruptive.
    As of December 2014, at least, the company performed only about 15 to 20 of the more than 200 tests it lists on its menu by using the method for which it is famous: taking a few drops of blood by finger-stick and then analyzing that tiny sample in a compact, proprietary device (which I have described here).
    Another 60 or so of the tests on the menu were then being performed by finger stick, according to the Journal‘s sources, but then diluted into larger samples so that they could be read by conventional, third-party manufactured analyzing machines. The article quotes an expert saying that such dilution is disfavored, and can generate less reliable results.
    The remaining 130-plus tests on the menu were performed by venipuncture (i.e, an old-fashioned syringe in the crook of the arm)—albeit using a smaller than ordinary needle which draws a smaller than ordinary sample —and then analyzed by conventional machines manufactured by third parties.
    In addition, in the most inflammatory allegation of all, the paper alleges that in early 2014 company president Sunny Balwani instructed employees to engage in what might amount to a way to cheat on proficiency tests that the company must pass to maintain its lab certifications. Relying in part on contemporaneous emails, the article alleges that Balwani told employees to analyze the proficiency test sample on a conventional, third-party-manufactured machine, even though the company was, at the time, routinely performing those diagnostic tests with its own proprietary system. The switch was made, the article suggests, because the third-party machines generated better results.

    The article also questions the reliability of Theranos’s tests though, in fairness, the examples given are anecdotal. (Theranos, as I have previously reported, is seeking FDA approval for some 130 of its proprietary tests, and has already received one such approval. The approval granted appears to accept the basic validity of her platform, at least as to that test.)

    more at link ...

  4. #3

  5. #4
    Wonder if this outfit was set to cash in on the "vampire cop" craze that is set to sweep the nation at "no refusal" checkpoints?

  6. #5
    Chief scientist committed suicide, company had a massive layoff in January. Science of the company is bogus, of course people are blaming the free market and greedy investors for propping it up

    http://www.slate.com/articles/health..._endeavor.html

  7. #6
    Thankfully some rationality in the comments

    The article presents a false choice between business success and public disclosure. (This was one of the huge red flags about Theranos from the start). Lots of other scientific businesses are hugely successful, yet they publicly disclose their methods and methodology. They manage to maintain a competitive business edge through patents. It is false to suggest that scientific businesses at large (including those in medical research) rely on secrecy and unverifiable methods. Theranos did this, and it is true that it's something the public (and investors) should guard against. But this does not mean that the entirety of privately funded scientific research is a modern snake-oil hustle.


    Publicly funded research is immensely important, and the public benefits from it time and again, making it a worthwhile government endeavor. It does not need the shoddy argument that "scientific businesses are a scam, so go the public sector route!" to justify it.

  8. #7

    Theranos, CEO Holmes, and Former President Balwani Charged With Massive Fraud

    https://www.sec.gov/news/press-release/2018-41

    Washington D.C., March 14, 2018 — The Securities and Exchange Commission today charged Silicon Valley-based private company Theranos Inc., its founder and CEO Elizabeth Holmes, and its former President Ramesh “Sunny” Balwani with raising more than $700 million from investors through an elaborate, years-long fraud in which they exaggerated or made false statements about the company’s technology, business, and financial performance. Theranos and Holmes have agreed to resolve the charges against them. Importantly, in addition to a penalty, Holmes has agreed to give up majority voting control over the company, as well as to a reduction of her equity which, combined with shares she previously returned, materially reduces her equity stake.

    The complaints allege that 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 product – a portable blood analyzer – could conduct comprehensive blood tests from finger drops of blood, revolutionizing the blood testing industry. In truth, according to the SEC’s complaint, Theranos’ proprietary analyzer could complete only a small number of tests, and the company conducted the vast majority of patient tests on modified and industry-standard commercial analyzers manufactured by others.

    The complaints further charge that Theranos, Holmes, and Balwani claimed that Theranos’ products were deployed by the U.S. Department of Defense on the battlefield in Afghanistan and on medevac helicopters and that the company would generate more than $100 million in revenue in 2014. In truth, Theranos’ technology was never deployed by the U.S. Department of Defense and generated a little more than $100,000 in revenue from operations in 2014.

    “Investors are entitled to nothing less than complete truth and candor from companies and their executives,” said Steven Peikin, Co-Director of the SEC’s Enforcement Division. “The charges against Theranos, Holmes, and Balwani make clear that there is no exemption from the anti-fraud provisions of the federal securities laws simply because a company is non-public, development-stage, or the subject of exuberant media attention.”

    “As a result of Holmes’ alleged fraudulent conduct, she is being stripped of control of the company she founded, is returning millions of shares to Theranos, and is barred from serving as an officer or director of a public company for 10 years,” said Stephanie Avakian, Co-Director of the SEC’s Enforcement Division. “This package of remedies exemplifies our efforts to impose tailored and meaningful sanctions that directly address the unlawful behavior charged and best remedies the harm done to shareholders.”

    “The Theranos story is an important lesson for Silicon Valley,” said Jina Choi, Director of the SEC’s San Francisco Regional Office. “Innovators who seek to revolutionize and disrupt an industry must tell investors the truth about what their technology can do today, not just what they hope it might do someday.”

    Theranos and Holmes have agreed to settle the fraud charges levied against them. Holmes agreed to pay a $500,000 penalty, be barred from serving as an officer or director of a public company for 10 years, return the remaining 18.9 million shares that she obtained during the fraud, and relinquish her voting control of Theranos by converting her super-majority Theranos Class B Common shares to Class A Common shares. Due to the company’s liquidation preference, if Theranos is acquired or is otherwise liquidated, Holmes would not profit from her ownership until – assuming redemption of certain warrants – over $750 million is returned to defrauded investors and other preferred shareholders. The settlements with Theranos and Holmes are subject to court approval. Theranos and Holmes neither admitted nor denied the allegations in the SEC’s complaint. The SEC will litigate its claims against Balwani in federal district court in the Northern District of California.

    The SEC’s investigation was conducted by Jessica Chan, Rahul Kolhatkar, and Michael Foley and supervised by Monique Winkler and Erin Schneider in the San Francisco Regional Office. The SEC’s litigation will be led by Jason Habermeyer and Marc Katz of the San Francisco office.


  9. #8

    Theranos' bloody tale nears end with decision to shut down

    https://www.bizjournals.com/sanjose/...lood-test.html

    Sep 5, 2018



    Theranos Inc., the once high-flying company whose principals face federal fraud charges over its blood-testing technology, reportedly will shut down after paying unsecured creditors with its remaining cash.

    The company — led by Stanford University dropout Elizabeth Holmes to a $9 billion valuation that dissipated when its finger-prick blood-testing technology couldn't hold up to scrutiny — leaves behind yet-unresolved criminal and civil charges, a lesson in caution for investors and the media, and a telltale stain on Silicon Valley's dominant win-at-all-cost culture.

    Theranos CEO and General Counsel David Taylor, one of a handful of employees remaining at a company that once employed more than 800 people, wrote in an email to shareholders that Theranos breached a covenant of a $65 million loan it received last year from private equity firm Fortress Investment Group, the Wall Street Journal reported late Tuesday.

    Fortress can foreclose on Theranos' assets because the company's cash — believed to be about $5 million, according to the Journal — has fallen below a certain level. But Taylor told shareholders, the Journal said, that Theranos hopes to cede control of its patents to Fortress in return for the company being able to pay unsecured creditors.

    The process of paying off those creditors could take six to 12 months, the Journal said, citing Taylor's email.

    Investment bank Jeffries Group LLC had contacted more than 80 likely Theranos buyers, the Journal said, and 17 of those groups took a close-enough look to require nondisclosure agreements.

    The company, now based in Newark but for much of its life based in Palo Alto, now is on the path to dissolution. Most of its two dozen employees last worked Friday.

    But one longtime Theranos competitor, Joseph Fuisz, said the Theranos' decision appears to be more corporate "shenanigans."

    ...



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  11. #9

    President Clinton speaks with Elizabeth Holmes and Jack Ma (2015 CGI Annual Meeting)

    An interesting intro by Clinton where he is implying China is overheating global economy.


  12. #10

    'The Dropout': The rise and fall of Elizabeth Holmes, Theranos


  13. #11
    So does the board get to keep all the blood ?
    Do something Danke

  14. #12

  15. #13

    “She Never Looks Back”: Inside Elizabeth Holmes’s Chilling Final Months at Theranos

    https://www.vanityfair.com/news/2019...hs-at-theranos

    FEBRUARY 20, 2019

    At the end, Theranos was overrun by a dog defecating in the boardroom, nearly a dozen law firms on retainer, and a C.E.O. grinning through her teeth about an implausible turnaround.

    Elizabeth Holmes appeared to know exactly what she needed to do. It was September 2017, and the situation was dire. Theranos, the blood-testing company that she had dreamed up more than a decade ago, during her freshman year at Stanford, was imploding before her very eyes. John Carreyrou, an investigative reporter at The Wall Street Journal, had spent nearly two years detailing the start-up’s various misdeeds—questioning the veracity of its lab results and the legitimacy of its core product, the Edison, a small, consumer blood-testing device that supposedly used a drop of blood to perform hundreds of medical tests. Carreyrou had even revealed that Theranos relied on third-party devices to administer its own tests. Theranos, which had raised nearly $1 billion in funding for a valuation estimated at around $9 billion, now appeared less a medical-sciences company than a house of cards.

    Owing largely to Carreyrou’s reporting, the fallout had been colossal, unprecedented. Theranos was under investigation by the Securities and Exchange Commission, the Department of Justice, and the Federal Bureau of Investigation. It had been sued by investors. Walgreens, its largest partner, terminated the relationship and shut down 40 testing sites. Forbes, which once estimated Holmes’s wealth at $4.5 billion, wrote it down to zero. The young founder, who was once compared to Steve Jobs, had recently been dubbed a “millennial Madoff” by the New York Post. According to two former executives at the company, Theranos had as many as nine different law firms on retainer, including the formidable Boies Schiller Flexner, to handle the mess—what appeared to be the end of a long, labored, highly visible, and heinous corporate death march.

    But Holmes had other ideas. Despite the chaos, she believed that Theranos could still be saved, and she had an unconventional plan for redemption. That September, according to the two former executives, Holmes asked her security detail and one of her drivers to escort her to the airport in her designated black Cadillac Escalade. She flew first class across the country and was subsequently chauffeured to a dog breeder who supplied her with a 9-week-old Siberian husky. The puppy had long white paws, and a grey and black body. Holmes had already picked out a name: Balto.

    For Holmes, the dog represented the journey that lay ahead for Theranos. As she explained to colleagues at the company’s headquarters, in Palo Alto, he was named after the world-famous sled dog who, in 1925, led a team of huskies on a dangerous, 600-mile trek from Nenana, Alaska, to remote Nome, Alaska, bearing an antitoxin that was used to fight a diphtheria outbreak. There is even a statue of Balto in New York’s Central Park, Holmes told one former employee. The metaphorical connection was obvious. In Holmes’s telling, Balto’s perseverance mirrored her own. His voyage with the life-changing drug was not so different from her ambition.

    ...

  16. #14

    Theranos – Silicon Valley’s Greatest Disaster


  17. #15
    She’s making a comeback, isn’t she?
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul

    Proponent of real science.
    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.

  18. #16

    As Theranos trial, documentary and movie near, Elizabeth Holmes hopes for a comeback

    https://www.bizjournals.com/sanjose/...-comeback.html

    Feb 21, 2019


    Elizabeth Holmes at Theranos Labs in Newark on Dec. 4, 2015. Since the collapse of her company, Holmes has reportedly eschewed her Steve Jobs-style black turtleneck for athleisure outfits.

    While government officials comb through millions of pages of documents to prepare for Theranos founder Elizabeth Holmes' expected fraud trial and the last physical remnants of her failed blood-testing business get disposed of, she is reportedly looking for somebody to help get her side of the story out.

    The 35-year-old Stanford University dropout has reportedly met with filmmakers who she hopes would make a documentary about her "real story," Vanity Fair reports in a story by Nick Bilton headlined, "She never looks back."

    She also "desperately wants to write a book," the article says.

    While movies and books like that can be made if you have the money to bankroll them, Holmes would be swimming against a tide of negative accounts about her role in the rise and fall of Theranos, once one of Silicon Valley's most highly valued startups.

    A documentary from HBO dubbed "The Inventor: Out for Blood in Silicon Valley" premieres on the network on March 18.



    “This story is a classic example of truth is more dramatic than fiction. The characters are at once larger-than-life and real,” its Academy Award-winning director, Alex Gibney, has said.

    There is also a major movie in the works in which Jennifer Lawrence will play Holmes. That film, "Bad Blood," is based on the best-selling book of the same name by Wall Street Journal reporter John Carreyrou, whose dogged work brought to light the false promises at Theranos.

    There is also the ABC Radio podcast, "The Dropout," which offers weekly episodes about "Money. Romance. Tragedy. Deception."

    And there will likely be many more stories filled with anecdotes about Holmes' eccentric, sometimes bizarre, behavior. According to the Vanity Fair article, Holmes bought a husky puppy as a company mascot as the business was imploding. The pup, who reportedly accompanied her everywhere, wasn't housetrained, however, the article says: "Accustomed to the undomesticated life, Balto frequently urinated and defecated at will throughout Theranos headquarters," Vanity Fair reports. "While Holmes held board meetings with people like Henry Kissinger, Balto could be found in the corner of the room relieving himself while a frenzied assistant was left to clean up the mess."

    But with all of the negativity headed her way, Holmes is apparently trying to keep her life together. Vanity Fair reports she is living in a luxury apartment in San Francisco and engaged to a younger hospitality heir, who also works in tech. Her trademark, Steve Jobs-style black turtleneck has reportedly been replaced with "athleisure" outfits.

    Former colleagues say Holmes claims that she is "greeted by well-wishers on the street who are rooting for her resurrection."

    Even if she is able to sell her story to a filmmaker or a publisher, though, it may be a hard one for the public to swallow. And more important for the future of this once-heralded entrepreneur, it may be a hard one to sell to a judge and jury.



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  20. #17

    What Kind of Person Fakes Their Voice?

    https://www.thecut.com/2019/03/why-d...eep-voice.html

    03/21/2019




    There are many fascinating, upsetting details in the story of Elizabeth Holmes, but my favorite is her voice. Holmes, the ousted Theranos founder who was indicted last year on federal fraud charges for hawking an essentially imaginary product to multi-millionaire investors, pharmacies, and hospitals, speaks in a deep baritone that, as it turns out, is allegedly fake. Former co-workers of Holmes told The Dropout, a new podcast about Theranos’s downfall, that Holmes occasionally “fell out of character” and exposed her real, higher voice — particularly after drinking. (Holmes’s family recently denied these claims to TMZ, insisting her voice is naturally low, just like her grandmother’s.)

    In the new Theranos HBO documentary, “The Inventor,” Holmes’ baritone is on full, strange display. There is a moment in which the camera person filming Holmes for an earlier interview segment asks her what her favorite Star Wars sound is (?), and she says Yoda. The cameraman then asks her to do Yoda’s voice, and for a moment, I held my breath. She pauses, and then, in the same deep mumble, recites: “Do or do not, there is no try.”

    If you hunt around online, you can sometimes find YouTube videos in which Holmes can be heard using that real voice before catching herself and deepening it, but these videos have a tendency to be taken down after a day or two. This, of course, only makes me more interested. Holmes is obviously guilty of many more serious crimes, but faking one’s voice is just weird, and embarrassing, in much the same way that bad toupees are: they place one’s bodily insecurities center stage. Plus, now she’ll have to do this voice for the rest of her life (?), and it’s all I can think about. The internet’s reaction to the podcast, and to Bad Blood, John Carreyrou’s book about Theranos, suggests I’m not alone.

    Personally, the episode has brought me back to an equally thrilling (if smaller) faked-voice scandal, in which a former co-worker of mine, after speaking in a straightforward East Coast accent for more than a year, suddenly developed an accent she labeled British, but which sounded more Australian. Nobody knew what to do, except gossip profusely. I still wonder about that co-worker, and I expect I will for the rest of my life. Ditto Elizabeth. So in order to better understand people like them (voice-fakers), I talked to Jillian O’Connor, an assistant professor of psychology at Concordia University who studies voices’ influence on others’ perceptions.

    Perhaps the most important thing to remember, O’Connor tells me, is that people generally do the things they do because they believe the benefits greatly outweigh the costs. In other words: Holmes (and my co-worker, supposedly) had her reasons, even if they don’t make sense to the rest of us. Namely: she thought it would achieve the desired effect of making her seem like a Silicon Valley visionary, says O’Connor. “This whole [Holmes] situation, the image manipulation, dressing like Steve Jobs, trying to sound a particular way — it sounds like an awful lot went into facade,” she says. Given the many millions of dollars invested in Holmes’ non-functioning blood box, her effort was … worth it, at least for a time. O’Connor says the research backs the effort behind Holmes’s baritone, too: “Some of the research we’ve worked on shows that when men and women deliberately lower their voices, it’s actually successful,” she says. “They do sound more dominant. They do sound more likely to be someone who’s in a position of power.” This belief, of course, is rooted in sexism, and the idea that men (and especially hyper-masculine men) are more fit to lead than women, and certainly not feminine ones. There are seemingly fewer scenarios in which a higher voice is beneficial, though women with higher voices are perceived as more fertile, feminine, and diminutive than their lower-voiced peers, which may partly explain the babygirl whisper Paris Hilton perfected on The Simple Life.

    As for the accent fakers, research also confirms that Americans, at least, perceive people speaking with a British accent as smarter and higher in social status, says O’Connor. (The research on British-Australian accents developed suddenly isn’t there yet, sadly.) In both cases, the faked voice exploits very real cultural biases, working to enhance our impressions of their speakers. It might be a particularly weird technique, but the need being expressed here is very basically human, says O’Connor. “People generally like to be liked, and [things like voice] are salient differences that stick out, and have positive associations,” she says. “We’re more likely to try and highlight those aspects, and apparently, in some cases, maybe even create them.” What we’re not so fond of, however, is witnessing the change take place, as in the case of Meghan Markle. I think this goes back to my toupee analogy: the facade is one thing, but to be caught in the act of creating it renders it inauthentic, and if there’s one thing we can’t stand, it’s perceived inauthenticity. To those of us who knew the Holmeses and Markles of the world before their new voices, they likely seem nuts, but consider all the people they met after: might they not take that voice at face-value, appreciating it for its pitch or particular accent?

    While it’s tempting to think we’re all excellent at separating a faked voice from a real one, O’Connor says that’s only half true. “We might be really good at picking up on the people who are bad at faking their voice,” she says, “but not at the ones that seem to be more expert.” For instance: compare Renée Zellweger, God bless her, in Bridget Jones’s Diary to Christian Bale in, I don’t know, anything. (He’s Welsh! You forgot again, didn’t you.) I’d like to think I’d have suspected Elizabeth Holmes right away, but I’ve only become aware of her voice after learning it was faked, so I’ll never know for sure. And I can say from experience that knowing a voice is fake doesn’t make it any less mystifying.

    Perhaps what most perplexes us about the faked voice, then, is the effort relative to the effect. “Imagine the effort, the training, the strain and the concentration that would take, day in and day out, just to control your voice while going about your everyday life,” says O’Connor. Imagine fearing that you’d slip into your real voice after two and half wines, or in your sleep. Does Elizabeth Holmes use her baritone when she speaks to her boyfriend, or does he get the real deal? I simply cannot relax until I find out.

  21. #18

    Fighting Theranos Charges, Holmes Blames Advocacy Journalism

    https://www.bloomberg.com/news/artic...acy-journalism

    June 28, 2019


    Elizabeth Holmes exits federal court on April 22.

    To defend against criminal fraud charges, Theranos Inc. founder Elizabeth Holmes is trying to put investigative journalism on trial.

    Holmes contends Wall Street Journal reporter John Carreyrou had an undue influence on federal regulators who concluded her blood-testing startup’s technology was a threat to patient health and forced the company to shut its labs.

    As she prepares for a trial set for July 28, 2020, Holmes is trying to retrace the steps the reporter took to publish his 2015 scoop and subsequent stories that unraveled Theranos, ultimately leading to the collapse of a company once valued at $9 billion and to her indictment almost exactly a year ago.

    The charges portray a scheme by Holmes and former company president Ramesh “Sunny” Balwani, her boyfriend at the time, to lie about the startup’s technology and dupe investors out of hundreds of millions of dollars -- while also misleading doctors and patients into thinking Theranos provided accurate, fast and cheap blood tests.

    Read More: Broken Love at Theranos May Be Tested in Criminal Fraud Case

    Through pretrial information sharing with prosecutors, Holmes has unearthed Carreyrou’s early contacts with New York state regulators and various federal agencies, as well as his interactions and emails with a doctor in Arizona.

    Holmes is pushing prosecutors to turn over every such communication they’re aware of because Carreyrou “went beyond reporting the Theranos story,” her lawyers said in a court filing. He prodded sources to lodge complaints about the company with regulators, and then lobbied agencies to pursue the complaints, according to the filing.

    “The jury should be aware that an outside actor, eager to break a story, and portray the story as a work of investigative journalism, was exerting influence on the regulatory process in a way that appears to have warped the agencies’ focus on the company and possibly biased the agencies’ findings against it,” her attorneys wrote. “The agencies’ interactions with Carreyrou thus go to the heart of the government’s case.”

    The Wall Street Journal said Friday it stands behind Carreyrou’s reporting, which won multiple journalism prizes.

    “We are confident Mr. Carreyrou acted responsibly, and his reporting throughout has been fair and accurate,” Steve Severinghaus, a spokesman for the newspaper, said in an email.

    Legal experts said the strategy that lawyers for Holmes and Balwani are testing probably reflects the strength of the government’s case and evidence weighing against them. Even so, a criminal conviction requires a unanimous jury and experts said the defense team may be searching for a single juror sympathetic to the idea that government agencies were in cahoots with Carreyrou and overzealous in their pursuit.

    “It seems that perhaps the defense wants to float a theory that Carreyrou exerted influence on the regulatory agencies to get a good story, and they, in turn, came down harder than they should have,” said Barbara McQuade, a former federal prosecutor who now teaches at the University of Michigan law school. “Sometimes you see defendants fish for communications that might support this theory.”

    “If I were the government, I would argue that none of this is relevant, and it is likely to distract the jury from the real issue in the case,” McQuade added. “The case is about the conduct of Theranos, not Carreyrou.”

    At a hearing Friday in federal court in San Jose, California, a lawyer for Holmes pressed U.S. District Judge Edward Davila to order U.S. agencies including the Food and Drug Administration and the Centers for Medicare & Medicaid Services to turn over more information -- without mentioning Carreyrou. The judge told prosecutors to push the agencies harder to give the defendants what they seek, saying ”they’re entitled to it,” but stopped short of issuing an order.

    Prosecutors say they haven’t interviewed or requested documents from Carreyrou or anyone at the Wall Street Journal about his reporting. The U.S. has collected testimony and documents about media mogul Rupert Murdoch’s investment in Theranos, and turned that material over to Holmes, prosecutors said in a court filing. Murdoch is the executive chairman of News Corp., which owns the Wall Street Journal.

    Prosecutors went on to explain seven typical inquiries Carreyrou and another Wall Street Journal reporter made of them and other agencies, including the Federal Bureau of Investigation.

    “Beyond these emails and voicemails, we are not aware of any communications involving Mr. Carreyrou or other WSJ reporters relating to the investigation or prosecution in the possession, custody, or control of the prosecution team,” according to the filing.

    The case is U.S. v. Holmes, 18-cr-00258, U.S. District Court, Northern District of California (San Jose).

  22. #19
    I'm more worried about the giant DNA database the government is building, which people are gladly paying for by taking those $100 DNA test kits. It doesn't matter if you don't personally do a DNA test, if a relative does that's still enough to put your DNA into a database during an investigation, whether you're innocent or guilty, and link you to it.
    A savage barbaric tribal society where thugs parade the streets and illegally assault and murder innocent civilians, yeah that is the alternative to having police. Oh wait, that is the police

    We cannot defend freedom abroad by deserting it at home.
    - Edward R. Murrow

    ...I think we have moral obligations to disobey unjust laws, because non-cooperation with evil is as much as a moral obligation as cooperation with good. - MLK Jr.

    How to trigger a liberal: "I didn't get vaccinated."

  23. #20

    Theranos founder Holmes phones in to court hearing solo after lawyers say she stiffed them

    https://www.mercurynews.com/2020/01/...d-them-report/

    January 24, 2020

    In her regular attendance at the San Jose federal courthouse for hearings in her high-stakes criminal fraud case, Theranos founder Elizabeth Holmes has been flanked by expensive lawyers. But in an Arizona civil case, she took part in a hearing this week representing herself, and by phone, according to a report Friday.

    Holmes has seven lawyers preparing for the August trial start in her criminal case in U.S. District Court, and fighting federal prosecutors over evidence. In the Arizona case — a lawsuit filed by blood-testing customers against Holmes, the defunct Palo Alto startup Theranos, and drug store chain Walgreens — court records earlier this month indicated she had two lawyers defending her. That was after three attorneys representing her in that case quit in the fall, saying she hadn’t paid them for more than a year and probably never would. Now, the court docket shows Holmes representing herself in the civil case.

    And, according to a Bloomberg report, she didn’t appear at a hearing in that case Thursday, instead calling in to the courtroom via an audio feed. She told the judge she wouldn’t make any arguments, but would rely on arguments made by lawyers for the other defendants in the case, Bloomberg reported Friday, citing an unnamed lawyer said to be present at the proceedings.

    Legal experts say Holmes faces considerable financial peril from the legal actions against her, with legal fees on top of possible restitution for investors, fines and a prison sentence.

    Theranos had been paying the millions-a-month legal bills of Holmes and former company president Sunny Balwani, Vanity Fair reported, citing two former company executives. But a few months after Holmes and Balwani were charged with fraud, the company dissolved, handing all assets and intellectual property over to an investment firm and saying its remaining $5 million in cash would go to unsecured creditors. Lawyers may have received money in advance to represent Holmes before Theranos went belly up, David Ball, a Santa Clara University law professor, has told this news organization.

    Holmes, a Stanford University dropout who founded Theranos in 2003, claimed her startup’s machines could conduct a wide range of medical tests on just a few drops of blood from a finger prick. Federal prosecutors allege she and Balwani schemed to defraud investors, doctors and “many hundreds” of patients by making false claims about what their blood-analysis machines could do.

    Forbes in 2015 pegged Holmes’ net worth at $4.5 billion, based on an estimated $9 billion valuation for Theranos and her ownership of half the company’s stock. But the SEC has said Holmes never sold any stock, and that between 2013 and 2015 she received a salary of $200,000 to $390,000 per year. In a March 2018 settlement with the SEC, Holmes agreed to pay a $500,000 fine within a year.
    In the criminal case, Holmes faces a potential 20-year prison sentence, up to $2.75 million in fines and possible restitution to investors the government says lost $700 million. The federal government has said that if she’s found guilty, it will go after any ill-gotten money or assets she may have. Plaintiffs in the civil case are seeking unspecified damages.


  24. #21
    Elizabeth Holmes Might Claim Abusive Relationship in Theranos Fraud Trial
    https://www.wsj.com/articles/elizabe...bshare_twitter
    Sara Randazzo & Christopher Weaver (updated 28 August 2021)

    Biotech startup founder alleges decadelong controlling relationship with former partner in court filings; he denies abuse

    Theranos Inc. founder Elizabeth Holmes could argue at her upcoming criminal fraud trial that she was in a decadelong abusive relationship with former Theranos President Ramesh “Sunny” Balwani that left her under his control during the period in which the government alleges the two blood-testing executives committed a massive fraud, newly revealed court records show.

    Ms. Holmes claims the abuse by her former business and romantic partner was psychological, emotional and sexual, according to the documents.

    Ms. Holmes accused Mr. Balwani of controlling what she ate, when she slept and how she dressed, throwing sharp objects at her and monitoring her text messages and emails, among other things, according to one of the filings.

    Mr. Balwani “unequivocally denies that he engaged in any abuse at any time,” according to one of the newly unsealed filings. His lawyer, Jeffrey Coopersmith, argued this week that the filings should remain under seal so that Mr. Balwani’s trial, currently scheduled for early next year, can be fair. Mr. Coopersmith didn’t respond to a request for comment after the filings became public overnight.

    The revelations, days before her trial is set to begin, shed light for the first time on how Ms. Holmes’s lawyers might mount a mental-health defense, as well as on a judge’s decision to separate the trials of Ms. Holmes and Mr. Balwani, who were jointly charged with wire fraud and conspiracy to commit wire fraud in June 2018. Both have pleaded not guilty.

    [full story behind paywall at link: https://www.wsj.com/articles/elizabe...bshare_twitter]
    The Bastiat Collection · FREE PDF · FREE EPUB · PAPER
    Frédéric Bastiat (1801-1850)

    • "When law and morality are in contradiction to each other, the citizen finds himself in the cruel alternative of either losing his moral sense, or of losing his respect for the law."
      -- The Law (p. 54)
    • "Government is that great fiction, through which everybody endeavors to live at the expense of everybody else."
      -- Government (p. 99)
    • "[W]ar is always begun in the interest of the few, and at the expense of the many."
      -- Economic Sophisms - Second Series (p. 312)
    • "There are two principles that can never be reconciled - Liberty and Constraint."
      -- Harmonies of Political Economy - Book One (p. 447)

    · tu ne cede malis sed contra audentior ito ·

  25. #22
    I am soooo looking forward to this trial. I hope she goes scorched earth on the entire tech sector, particularly the massively fraudulent "DNA testing" scams like 23andMe (run by Google's founder wife) and Cologard, et al and reveals how it's all for collecting DNA samples for global databases under completely false pretenses. If she feels she's being thrown under the bus by her military (ahem! dna collection), Kissinger and Clinton, etc Board of Directors and investors she may just blow the top off of the huge ongoing fraud.
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book



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