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call me back when the ex board members get hit for this.. IMHO the fraud wasn't the investors getting fleeced, it was the US public through obamacare payments

by cat199 9y ago

call me back when the ex board members get hit for this.. IMHO the fraud wasn't the investors getting fleeced, it was the US public through obamacare payments made for pharmacy blood screening.. and given the players this will never, ever, ever see the light of day.. for now, it sounds like they are taking the fall to cover the higher ups to me.. https://en.wikipedia.org/wiki/Theranos https://en.wikipedia.org/wiki/Theranos Since its incorporation in 2003, Holmes has been the company's chief executive officer. She recruited Channing Robertson, a chemical-engineering professor at Stanford, to be a technical advisor and the company's first board member during its early years. Sunny Balwani, a software engineer Holmes had met during high school, joined the company as its president and chief operating officer in 2009.[54] In July 2011, Holmes was introduced to former Secretary of State George Shultz, who joined the Theranos board of directors that same month.[55] Over the next three years, Shultz helped to introduce almost all the outside directors on the "all-star board," which included William Perry (former Secretary of Defense), Henry Kissinger (former Secretary of State), Sam Nunn (former U.S. Senator), Bill Frist (former U.S. Senator and heart-transplant surgeon), Gary Roughead (Admiral, USN, retired), James Mattis (General, USMC), Richard Kovacevich (former Wells Fargo Chairman and CEO) and Riley Bechtel (chairman of the board and former CEO at Bechtel Group).[55][56][57] The board was criticized for consisting "mainly of directors with diplomatic or military backgrounds."[11] As of May 2016, the Theranos board of directors were:[64] Elizabeth Holmes, Founder and CEO Riley Bechtel, former Bechtel Group CEO David Boies, a founder and the chairman of Boies Schiller & Flexner William Foege, former director U.S. Centers for Disease Control and Prevention Richard Kovacevich, former Wells Fargo CEO and chairman James Mattis, retired USMC General Fabrizio Bonanni, former executive vice president of Amgen

ilamont 9y ago
Board members may have been incompetent, guilty of a dereliction of duty, or were tricked themselves. Meeting minutes would shed light on this.
- i_am_nomad 9y ago
  It’s noteworthy that none of the board members had experience in the medical device industry. They were most likely just in over their heads.
  - cat199 9y ago
    if you look at the timeline of events, I highly doubt this.. https://taskandpurpose.com/mattis-theranos-questions/ https://taskandpurpose.com/mattis-theranos-questions/ for starters. Not to mention rushing approval just months prior to obamacare taking effect and conveniently lining up drugstore partnerships at around the same time. The board composition makes everything all the more suspicious. Not to mention the same executive of that western union.. The level of shrewdness of, and resources available to, people operating at this level makes any claims of 'over their heads' tantamount to 'gross negligence' at the very least.. the phrase 'plausible deniability' didn't get invented in a vacuum... and lets not even get into the business about the researcher who committed suicide because he didn't want to lie long before any of this other stuff happened..

by cat199 9y ago

ilamont 9y ago

Board members may have been incompetent, guilty of a dereliction of duty, or were tricked themselves. Meeting minutes would shed light on this.

i_am_nomad 9y ago
It’s noteworthy that none of the board members had experience in the medical device industry. They were most likely just in over their heads.
- cat199 9y ago
  if you look at the timeline of events, I highly doubt this.. https://taskandpurpose.com/mattis-theranos-questions/ https://taskandpurpose.com/mattis-theranos-questions/ for starters. Not to mention rushing approval just months prior to obamacare taking effect and conveniently lining up drugstore partnerships at around the same time. The board composition makes everything all the more suspicious. Not to mention the same executive of that western union.. The level of shrewdness of, and resources available to, people operating at this level makes any claims of 'over their heads' tantamount to 'gross negligence' at the very least.. the phrase 'plausible deniability' didn't get invented in a vacuum... and lets not even get into the business about the researcher who committed suicide because he didn't want to lie long before any of this other stuff happened..