Was Elizabeth Holmes on Shark Tank? You may have been wondering what happened to Holmes and her business venture. In 2014, she was a 30-year-old Silicon Valley wunderkind, promising to revolutionize the healthcare industry by delivering diagnostic tests without the need for painful, time-consuming blood draws. Holmes left Stanford in 2004 to launch Theranos. She cited her fear of needles among her reasons. After her venture failed, Holmes began dating Billy Evans, a hotel heir.
Holmes had a controversial business and has been charged with fraud, according to the Securities and Exchange Commission. She is accused of taking about $700 million from investors. In April 2018, she was arrested by the SEC and charged with conspiracy and wire fraud. Despite the scandal, Holmes continues to be on television in a new drama series called “The Dropout.” The series is currently in its eighth episode and will air in early 2019.
The trial for Holmes’ business failed to bring her acquittal. Holmes was found guilty on four counts of defrauding investors, while she was acquitted on the other four. Holmes is now facing 80 years in prison, with each count carrying a maximum sentence of 20 years. The jury found Holmes had used the show ‘Shark Tank’ as a cover for fraud, and that Holmes was not telling truth.
Holmes was also the subject of a lawsuit against the SEC. Holmes settled the case last January with a $500,000 settlement. She was also required to pay a fine of $500,000 and be disqualified from serving as an officer or director of a public corporation for ten years. Holmes’ lawyers did not admit to the allegations, so she is not expected to testify in court. Even if she does answer, the jury may find her dishonest.
Elizabeth Holmes’ appearance on Shark Tank made headlines, but it is now over. It is unclear why Theranos is still trusted by the public. The company was founded on the idea of a single finger prick producing a variety results. In 2014, the company had been valued at $9 billion and made the rounds of the investing community. Despite attracting significant investment, the company went bankrupt in 2015.
Holmes and Balwani were in a relationship before they entered business. They met in Beijing in 2002, and they became friends. After a year of dating, the two moved in together. But the two did not officially become partners in Theranos until 2009, and their relationship remained secret for ten years. As a result, many investors did not even know that Holmes and Balwani were in a relationship.
Theranos Inc. founder Elizabeth Holmes was convicted in 2018 of fraud and her net worth plummeted. Investors were furious and brutal. The financial consequences of its fraud were not known to the company and its investors lost hundreds upon millions of dollars. Ultimately, Holmes was sentenced to jail and her company is in a legal mess.