Elizabeth Holmes, a Clinton donor who was named a Presidential Ambassador for Global Entrepreneurship under former President Barack Obama, has settled with the Securities and Exchange Commission after being charged with "massive fraud" on Wednesday.
Holmes, 34, was the founder and CEO of Theranos, a privately owned Silicon Valley health tech company once valued at $9 billion. The SEC alleges the company deceived investors when raising more than $700 million from late 2013 to 2015, and as a result, Holmes will pay a $500,000 fine and be barred from serving as a director or officer of a public company for 10 years, according to CNBC.-- More....
