Theranos Founder Elizabeth Holmes Convicted of Defrauding Investors, Raised $900 Million from Investors Including Murdoch & Walton Family

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Theranos Founder Elizabeth Holmes Convicted of Defrauding Investors, Raised $900 Million from Investors Including Murdoch & Walton Family

7th January 2022 | Hong Kong

Theranos founder & CEO and Stanford dropout Elizabeth Holmes, had been convicted of defrauding investors for 3 wire fraud charges (using electronic communications to make false statements).  Elizabeth Holmes had made false statements to investors that it has the technology to revolutionise the healthcare industry with a simple & affordable testing device (Edison) that could detect illness such as cancer and diabetes with only a few droplets of blood.  She had founded Theranos in 2003 at the age of 19, and drop out of Stanford University in 2004.  Theranos was once valued at $9 billion, and have raised more than $900 million from billionaires including including media tycoon Rupert Murdoch ($125 million), Walton Family (Walmart) and DeVos Family Office ($100 million, co-founder of American multi-level marketing company Amway and owner of NBA Basketball Team Orlando Magic).

“ Raised $900 Million from Investors Including Murdoch & Walton Family “

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DeVos Family Office RDV Corp Invested $100 Million into Elizabeth Holmes Theranos

DeVos Family Office RDV Corp, the co-founder of American multi-level marketing company Amway and owner of NBA Basketball Team Orlando Magic with more than $5 billion fortune, had invested $100 million into Stanford University drop-out Elizabeth Holmes medical-startup and blood-testing device Theranos Inc in 2014, according to a representative of DeVos Family Office in a legal proceeding.  In 2014, Lisa Peterson who manages private equity investments at DeVos Family Office RDV Corp, testified that Elizabeth Holmes was hand-picking 5 to 6 private families to invest in her firm, and had on hindsight, misrepresented revenue and blood-testing technology was not invented by Theranos, but by 3rd-party systems.  More than $900 million were invested into Theranos, including media tycoon Rupert Murdoch ($125 million) and the Walton Family (Walmart).  Betsy DeVos is the former United States Secretary of Education from 2017 to 2021 under Donald Trump Administration.  Amway was co-founded by Richard DeVos (1926 – 2018) and Jay Van Andel in 1959, which became one of the most successful multi-level marketing selling health, beauty and home care products.  

ABC News: Ex-Theranos CEO Elizabeth Holmes says ‘I don’t know’ 600+ times in depo tapes

60 Minutes Australia: Elizabeth Holmes exposed: the $9 billion medical ‘miracle’ that never existed

CNBC: Where the Elizabeth Holmes trial stands at its halfway point

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