Criminal
May 31, 2023
The surrender of Elizabeth Holmes: a complex and cautionary tale of ambition turned deceit
In addition to incarceration, Holmes and Ramesh “Sunny” Balwani were ordered to pay jointly and severally over $450 million in restitution to investors victimized by the fraud, though they may not see a penny of that.
Panda L. Kroll
Founder
Panda Kroll, Esq. & Associates.
Panda represents both employers and employees in labor disputes.
The curtain appears to have fallen on the final act of a true-crime story of massive fraud that captivated not only the business and biotechnology sectors, but also the popular imagination.
On June 14, 2018, a grand jury indicted Elizabeth Holmes and Ramesh "Sunny" Balwani with crimes related to a scheme to promote Theranos, a failed medical technology start-up based in Palo Alto that had promised to disrupt the consumer healthcare indust...
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