I was surprised the company still existed after its abrupt fall. Will acquiring this debt financing help them at all? Will having to service the debt become a problem?
Theranos founder Elizabeth Holmes is facing criminal charges of wire fraud... Theranos: Scandal hit blood-testing firm to shut 5 September 2018 - Scandal-hit US blood-testing start-up Theranos is to formally dissolve, the firm's chief executive David Taylor has told shareholders in an email.
Her boyfriend and business partner, Balwani, is serving a 13-year prison sentence after being convicted of 12 counts of fraud and conspiracy. 'Former Theranos CEO Elizabeth Holmes reports to prison to serve her 11-year sentence for fraud' Source: CBS BY ELIZABETH NAPOLITANO UPDATED ON: MAY 30, 2023 / 1:39 PM / MONEYWATCH Former Theranos CEO Elizabeth Holmes was taken into custody Tuesday to begin serving her 11-year sentence at a Texas prison for swindling investors of hundreds of millions of dollars and lying about her biotech company's blood-testing technology. A California court convicted Holmes, 39, on four counts of fraud and conspiracy. The judge presiding over the case recommended she serve time at a prison camp in Bryan, Texas. She leaves behind a nearly 2-year-old son, who was born weeks before the start of her trial; and a 3-month-old daughter, who was conceived after her conviction. Holmes, 39, will be incarcerated in a minimum-security women's prison camp in Bryan, Texas, located about 95 miles northwest of Houston, where she grew up aspiring to become a technology visionary along the lines of Apple co-founder Steve Jobs.' Read more: https://www.cbsnews.com/news/theranos-ceo-elizabeth-holmes-prison-sentence-trial/