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Scam Of The Century?

New Book Details Theranos Meltdown

KCBS Radio Morning News
May 21, 2018 - 8:27 am
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SAN FRANCISCO (KCBS Radio) -- The story of the rise and fall of the Bay Area blood-testing startup company Theranos is now being told in detail.

Wall Street Journal reporter John Carreyrou wrote a series of articles detailing deceptive practices employed by Theranos, which at one time enjoyed a valuation of $9 billion and attracted directors like former Secretary of State George Shultz and Marine Corps General James Mattis.

He's now added to his work with a book, Bad Blood: Secrets and Lies In a Silicon Valley Startup. The book offers fresh details about the corporate culture at Theranos, where founder Elizabeth Holmes and her companion Sunny Balwani ran what Carreyrou describes as a workplace beset by fear and distrust.

In March, Theranos reached a settlement with the Securities and Exchange Commission that required Holmes to give up her control of the company. The SEC said it would prosecute  charges against Balwani in U.S. District Court.