Theranos founders trial date set in fraud case

Two individuals charged with perpetrating one of the largest investment scams in recent history are about to get their day in court.

Ramesh Balwani and Elizabeth Holmes, a known advocate for and supporter of Hillary Clinton, are both facing 20 years in jail and substantial fines if they are found guilty.

The Theranos Fraud

Theranos was a company that boasted of being able to conduct hundreds of tests from a single blood droplet. The duo falsely reported results and ended up robbing investors of billions of dollars.

While they claimed their technology was ready for use, it was, in fact, years away from being perfected. Eventually, the scam was exposed, and Theranos went bankrupt.

Prior to the demise of the company, however, Holmes managed to make quite a name for herself. Before the SEC shut the company down in 2018, it was among the most buzz-worthy businesses in Silicon Valley.

Holmes had also been named the youngest self-made woman billionaire by Forbes Magazine.

Defending Their Claim

According to Holmes and Balwani, the failure of the company was not their fault.

They are blaming the entire collapse on reporter John Carreyou, who works for The Wall Street Journal.

They believe his story brought undue influence and scrutiny that caused the company to fail.

To this point, the couple has refused to take a plea and plans on fighting the case in court.

It is also worth noting that Holmes was an avid Hillary supporter. She had reportedly hosted fundraising events to benefit Hillary.

Proving once again, when it comes to money, the Clintons and their associates have absolutely no scruples whatsoever as long as that check clears the bank.

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