Media Darling Hailed As 'Next Steve Jobs' Accused of 'Massive Fraud' by SECChris Menahan
Mar. 15, 2018
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The media hailed female entrepreneur Elizabeth Holmes as "the next Steve Jobs" because she wore a turtle neck and claimed to have revolutionized blood-testing with her company Theranos.
On Wednesday, she was charged with "massive fraud" by the SEC.
From the New York Post:
Elizabeth Holmes -- the Silicon Valley wunderkind whose blood-testing startup Theranos has collapsed in a slew of scandals -- has been charged with "massive fraud" by the Securities and Exchange Commission.Martin Shkreli meanwhile was hit with a $7.36 million fine and given seven years, possibly in a dangerous high-security prison.
Theranos and 34-year-old Holmes ran "an elaborate, years-long fraud in which they exaggerated or made false statements about the company's technology, business, and financial performance," according to the SEC.As Steve Sailer noted, Holmes filled her company with deep state cronies, recruiting for her board "aged national security superstars like former secretaries of state George Schultz and Henry Kissinger, past and current secretaries of defense like Bill Perry and James Mattis, and so forth."
The SEC claims that Holmes misled investors about her technology, which Theranos said was able to test for diseases with only a pinprick, and more cheaply than what was commercially available, according to the SEC settlement.Here she is shilling for her company on Jim Cramer's show in 2015:
Here she is shilling at the Obama White House in 2015 where she was named a "Presidential Ambassador for Global Entrepreneurship":
Here's a puff piece from Glamour magazine also from 2015:
She pushed the narrative about "women and girls" in STEM and the controlled media rewarded her for it. Too bad for her investors.
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