( March 14, 2018, 16:43 GMT | Official Statement) -- MLex Summary: The US Securities and Exchange Commission on Wednesday charged Theranos Inc., its founder and CEO Elizabeth Holmes, and its former President Ramesh Balwani with raising funds through a years-long fraud in which they exaggerated or made false statements about the company’s technology, business and financial performance. Theranos and Holmes agreed to settle the fraud charges without admitting or denying the allegations. Holmes agreed to pay a $500,000 penalty, be barred from serving as an officer or director of a public company for 10 years, return the remaining 18.9 million shares she obtained during the fraud and relinquish her voting control of Theranos.Statement follows in full. Also see document below. ...
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