The Securities and Exchange Commission has charged Elizabeth Holmes, founder and CEO of scandal-ridden startup Theranos, with “massive fraud.”
Along with former Theranos President Ramesh “Sunny” Balwani, Holmes has been charged with raising over $700 million from investors “through an elaborate, years-long fraud in which they exaggerated or made false statements about the company’s technology, business and financial performance.”

http://www.healthcareitnews.com/news/theranos-founder-elizabeth-holmes-former-president-charged-sec-%E2%80%98massive-fraud%E2%80%99