Who broke the Theranos scandal?

It was John Carreyrou, twice-Pulitzer-prize-winning journalist of The Wall Street Journal who first broke the story in 2015.

Who blew the whistle on Theranos?

Two whistleblowers, Tyler Schultz and Erika Cheung, brought Theranos's fraud to light. Erika Cheung was working as a Theranos lab assistant. Cheung knew something was off when the quality controls repeatedly failed. The other whistleblower, Tyler Schultz, was a research engineer on the Theranos assay validation team.

Who figured out Theranos?

The whistleblowers. Tyler Shultz started working for Theranos in 2013 and he was an enthusiastic follower of Holmes' vision. He was given a full-time position on the diagnostic team and he soon encountered problems with test results.

Who helped bring down Theranos?

(KRON) — Two whistleblowers who helped blow the cover off Theranos' secretive blood lab and expose Elizabeth Holmes of fraud were recent college graduates who wanted to do the right thing. Tyler Shultz and Erika Cheung were low on Theranos' totem pole, working as entry-level lab techs. Holmes was their famous boss.

Who lost money on Theranos?

Education Secretary Betsy Devos, media mogul Rupert Murdoch and Walmart heirs in The Walton family were all among a lineup of famous and wealthy investors who lost big in their investments in Silicon Valley blood-testing company Theranos Inc., the Wall Street Journal reported.

How Theranos Pulled Off Its $9 Billion Scandal

Did investors lose everything in Theranos?

The SEC charged Theranos, its founder and CEO Elizabeth Holmes, and its former President Ramesh "Sunny" Balwani with fraud. Holmes lost control of the company, returned millions of shares, and was barred from serving as an officer or director of a public company for 10 years.

Did Kissinger invest in Theranos?

An estate lawyer for Henry Kissinger revealed that he helped Theranos Inc. line up investments totaling $370 million from from some of the wealthiest families in the U.S. -- the Waltons, the Coxes, the Oppenheimers and the DeVoses -- four years before the blood-testing company collapsed in scandal.

What does Erika Cheung do now?

We provide programs catered to workers, investors, and founders. Erika is an advisor to several family offices, venture capital firms, and governmental investment programs focused on healthcare, biosciences, and biotechnology companies.

What did Erika Cheung do?

Cheung eventually left Theranos and is now known as one of the whistleblowers who first sounded the alarm about the company. She is the second witness in the blockbuster case, following testimony from the company's former controller about the company's financials.

Did patients sue Theranos?

A class-action lawsuit filed on behalf of patients who purchased Theranos clinical laboratory testing services between November 2013 and June 2016 is weaving its way through the legal system.

Did the FDA ever approve Theranos?

Silicon Valley startup Theranos snagged FDA approval for its finger-stick test for herpes, a feather in the company's cap as it looks to expand the reach for its product and challenge its rivals' business models.

Could the Theranos machine ever work?

But famously, Theranos's house of cards came tumbling down. The microwave-sized machine that supposedly could run these tests, dubbed the “Edison,” simply did not work. What came as a shock for Silicon Valley and the investment world was no surprise to those in the blood testing industry.

Did Walgreens use Theranos?

Walgreens was an early validator of Theranos' fingerstick blood tests, once operating 40 Theranos Wellness Centers in its Arizona stores and acting as its primary source of revenue.

How did carreyrou expose Theranos?

The downfall of Theranos began in 2015, when John Carreyrou, then an investigative reporter for The Wall Street Journal, exposed the company's false claims in a series of articles. Carreyrou revealed how the company's Edison device was not able to run a wide range of tests from a tiny blood sample, as it claimed.

Who was the first whistleblower at Theranos?

Tyler Shultz was not the only Theranos whistleblower, but he was the first to report troubling findings at the company to regulators. At the time, it was a risky and bold move, but it helped accelerate scrutiny that would ultimately end in the company's implosion.

Who testified against Theranos?

A former Secretary of Defense testifies

Other than Holmes, the most high-profile witness to take the stand was James Mattis, a retired four-star general who served as Secretary of Defense in the Trump administration.

What did Erika Cheung do at Theranos?

Cheung was a fresh graduate when she landed her role as lab assistant at Theranos in 2013. According to the podcast on which the Hulu series was based, Cheung came across the position at a campus career fair and was inspired by Theranos' vision to change the world and make healthcare more accessible.

How much money did Safeway lose with Theranos?

Former Safeway Inc. Chief Executive Officer Steven Burd sank $400 million on his dream of transforming his grocery store chain into a one-stop shopping destination for food, blood-testing and drug prescriptions in partnership with Theranos Inc.

Did CMS shut down Theranos?

The Centers for Medicare & Medicaid Services (CMS) has revoked the CLIA certificate of Theranos' Newark, CA, laboratory and banned the company's CEO Elizabeth Holmes from owning, operating, or directing a lab for at least 2 years.

Where is Maggie Cheung now?

Cheung now travels more in the West, though she continues to work in Hong Kong.

Is Theranos still in business?

Ever since Theranos shuttered its operations, people have wondered what happened to Elizabeth Holmes' net worth. The former CEO and founder of the now-defunct Silicon Valley health technology company was once the world's youngest self-made billionaire women. But now, Elizabeth Holmes' net worth looks awfully different.

Do whistleblowers get paid?

The awards paid to whistleblowers generally range between 15 to 30 percent of the proceeds collected and attributable to their information.

Who was biggest investor in Theranos?

Media mogul Rupert Murdoch, who led a $5.8 million Series A in February 2005; Venture capitalist and Draper Fisher Jurvetson partner Tim Draper, who remained an outspoken defender of Theranos at least until 2018; Oracle Executive Chairman and founder Larry Ellison; and. National pharmacy and retail chain Walgreens.

Who are the largest investors in Theranos?

Nearly a decade ago, Holmes raised $945 million from high-profile investors including the family of former Education Secretary Betsy DeVos, Rupert Murdoch and the Walton family of Walmart fame.

What happened to Walgreens after Theranos?

In June 2016, Walgreens terminated its partnership with Walgreens, after learning Theranos was forced to void all tests on its own machine between 2014 and 2015.