Former Theranos biotech star indicted on fraud charges

Former Theranos biotech star indicted on fraud chargesElizabeth Holmes, the founder of blood-testing startup Theranos and a onetime Silicon Valley star, has been hit with criminal charges accusing her of defrauding investors and others, prosecutors announced Friday. The Justice Department said a federal grand jury in California indicted Holmes, 34, and Ramesh “Sunny” Balwani, 53, who had been president and chief operating officer. The indictment claims that Holmes and Balwani falsely claimed that they had developed revolutionary technology that could quickly provide a range of clinical tests from a small drop of blood.



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