Wednesday, March 14, 2018

Never Defraud The Investor Class

Everybody else, though, no big whoop.

Elizabeth Holmes, founder and chief executive of the blood-testing company Theranos, has been charged with an "elaborate, years-long fraud" by the Securities and Exchange Commission in which she and former company president Ramesh "Sunny" Balwani "allegedly deceived investors into believing that its key product -- a portable blood analyzer -- could conduct comprehensive blood tests from finger drops of blood," the SEC said Wednesday.

Whether or not medical tests are as accurate as claimed is important for other reasons than "who lost money investing in them" but America! Fuck yeah!