Theranos founder Elizabeth Holmes has settled the “massive fraud” charges levied against her by the SEC. A little refresher, Theranos was that company that was going to revolutionize the world of laboratory blood testing and then didn’t deliver. That sent Forbes’ evaluation of her to plummet from ~$4.5B to ~$0.0B, and brought a lot of scrutiny from federal agencies, which eventually culminated in this deal. As part of the stipulations, Holmes can no longer run Theranos, nor be an officer or director of a public company for 10 years.
Shout out to fellow massive fraud Martin Shkreli who was sentenced to 7 years in prison last week. We didn’t feel like giving the jerk a full story, but you’ll be happy to know he cried at his sentencing.