HomeBusinessTheranos: the biotech company of the "ten billion dollar fraud" will disappear

Theranos: the biotech company of the “ten billion dollar fraud” will disappear


The biotechnology company that promised to revolutionize blood tests with a promising and technological system, Theranos, comes to an end. Its founder, Elizabeth Holmes, took less than a year to go from being considered the new star of Silicon Valley to being described as a big fraud.

This company has notified its shareholders that it will dissolve soon, according to The Wall Street Journal. In an email, Theranos explains the next few months will pay the creditors with the remaining assets to the company.

This dissolution comes three months after its responsible, the once admired Elizabeth Holmes, was accused by US federal prosecutors of perpetrating a multimillion-dollar fraud. She would have cheated, allegedly, investors, doctors and patients.

In the message sent to the shareholders of the medical startup, its general manager, David Taylor, said that the company had devoted its last efforts in finding a buyer, but it was not possible. That’s why now it just disappears.


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