Elizabeth Holmes, dubbed Steve Jobs, was fined $ 500,000 for fraud
Elizabeth Holmes, the founder of Theranos medical analysis company, was fined by the Security and Exchange Commission (SEC), the US capital market supervisor, with $ 500,000 for fraud over $ 700 million, according to Mediafax
The SEC has stated that Theranos has deceived its partners and customers with the technology it applies, and the results are not accurate, which could endanger the lives of patients and is supposed to have used modified third-party equipment instead of its own to process some tests.
The SEC also noted that the company's representatives lied about the company's revenue forecasts and asked investors regulatory approval for its test technology to be voluntary, but in reality it was not.
"Elizabeth Holmes came at the age of 19 with an idea he thought he could revolutionize the medical world. Elizabeth's main idea was to use a machine to test a variety of diseases by taking a few drops of blood from a person's finger, "the BBC notes. Called "Edison," the device promised to revolutionize blood testing, allowing patients to perform tests at pharmacies, and the results could be analyzed in just a few hours
Elizabeth was considered the second Steve Jobs through the image she's cultivating in the media. He only wore black shots in public, became vegan, or held motivational speeches at conferences.
Theranos plans to levy less than half of the US Medicare and Medicaid charges for blood collection, promising to save $ 200 billion in US $ 200 billion over the next 10 years
Problems began for Theranos in October 2015, after a Wall Street Journal survey found that the "invented" blood-testing devices of the company were not accurate and this was hidden by the leaders and employees of Theranos . Thus, the lives of many people could be endangered.
Theranos decided in 2016 to close all medical analysis laboratories and lay off 340 employees, representing about 40% of the company's workforce. The company then announced that it will continue to focus on the development of small blood testing medical devices called miniLab
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In March 2015, founder and chief executive of the company, Elizabeth Holmes, managed to form a 9 billion-dollar empire that also developed a very simple medical device for blood collection. At age 31, Holmes owned half the company and was the youngest self-made billionaire in the US. The Theranos Council was a big name, like two former US secretaries, George Shultz and Henry Kissinger, the BBC said.