3 ms·
Cofounders of bankrupt poop-testing startup uBiome have been charged with fraud
- deleted 6y ago[deleted]
- aaron695 6y agoTheranos's technology was imaginary that an average person should have questioned. Did uBiome's technology work? That would offend me more if it didn't. Body Brokers is a good medical fraud movie if into such things, based on the NPR article with some license - https://www.imdb.com/title/tt9585676/ https://www.imdb.com/title/tt9585676/
- girvo 6y agoThe article itself seems to imply that it might have been legitimate (though their billing practices sure weren’t), at least, though I’m not entirely certain either way.
- refurb 6y agoCenter for Medicare Services love to make examples out of people who bill “creatively”. There is a pile of legal opinions about what constitutes fraud in medical billing. Apparently uBiome either had bad legal council or chose to ignore their recommendations.
- hn_throwaway_99 6y agoI mean, the article says that the founders falsified documents. Once that happens you're way past the point of "we had bad legal council", you're into full on "we hope we can fly to a tropical island before we get caught" mode.
- jgalt212 6y agoI'm not hear to defend uBiome. That being said, have you ever had to fill out a vendor survey? There are some seriously confidential asks in there. Sometimes I punt on information I don't want to and shouldn't have to disclose, and sometimes I just make up crazy numbers to fill in.
- staunch 6y agoIf the founders committed outright fraud, they should be punished, of course. But the burden of proof for accredited investors claiming fraud should be pretty damn high. Accredited investors are granted the privilege of investing in risky businesses, and it's only reasonable that they should also have to pay the price when those businesses fail for almost any reason. They can't have it both ways.
- __dearsaturn 6y agoWhat
- Proven 6y agoShitheranos