Indian-American Balwani, Theranos CEO charged with fraud
Founder of blood-testing startup Theranos, Elizabeth Holmes, and former President Ramesh Balwani, have been criminally charged for multimillion-dollar schemes to defraud investors, doctors, and patients. The former couple was allegedly aware that Theranos' blood tests were not consistently providing reliable results. They were released on a $500,000 bail and ordered to surrender passports.