Theranos Inc. founder Elizabeth Holmes, who reigned briefly as the world’s youngest female self-made billionaire over her promise to revolutionize blood testing, was criminally charged with defrauding investors along with the company’s former president.
The indictment announced June 15 by the U.S. Attorney in San Francisco alleging wire fraud follows claims by the Securities and Exchange Commission that Theranos, Holmes and the company’s ex-president, Ramesh “Sunny” Balwani, lied about their technology while raising more than $700 million to build the medical-testing startup.
The charges are the most serious blow to the company since scrutiny by the media and regulators escalated ...
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