Throughout Elizabeth Holmes‘ many controversies, one man has stood by the Theranos’ founder’s side: her husband, Billy Evans.In 2003, Holmes founded Theranos, a $9 billion Silicon Valley biotechnology start-up company.
She claimed the company had revolutionized blood-testing technology to diagnose a multitude of diseases with just a few drops of blood.
In 2015, however, the truth came out — Theranos’ technology didn’t work. Per a Wall Street Journal exposé, company executives manipulated research and swindled investors out of a staggering $700 million.Three years later, in March 2018, the U.S.
Securities and Exchange Commission (SEC) charged Theranos, Holmes and former Theranos President Ramesh “Sunny” Balwani — Holmes’ ex-boyfriend — with deceiving investors by “an elaborate, years-long fraud,” through false or exaggerated statements about the accuracy of the company’s blood-testing technology, as well as Theranos’ business and financial performance.
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