- Theranos rose to fame on promises of quick and easy blood tests for hundreds of conditions based on just a drop of blood. The company raised millions of dollars from high-profile donors including Bill Gates and Henry Kissinger.
- Though the company was lauded by the Obama administration, with then-Vice President Joe Biden touring the company as part of a publicity stunt, a series of investigative articles from The Wall Street Journal’s John Carreyrou revealed the company was lying about its underlying technology.
- “Mr. Balwani knew that Theranos was not generating, and would not generate, any meaningful revenue by being honest with people,” said U.S. Attorney Jeff Schenk, according to NBC. “So he chose a different path.”
