Good plan, Pat.
Theranos’s victims, Decide Davila stated, embody venture-capital corporations Lucas Enterprise Group and Peer Enterprise Companions, and particular person traders together with Pat Mendenhall of U.S. Capital Advisors LLC; Richard Kovacevich, the ex-CEO of Wells Fargo & Co.; and Rupert Murdoch. Mr. Murdoch, who invested $125 million in Theranos, is the manager chairman of Information Corp, which owns the Journal.
“All of us screwed up,” stated Mr. Mendenhall, an early Theranos investor who testified in opposition to Mr. Balwani. “I’ll by no means, ever spend money on any firm once more with out audited financials.”
That is from Heather Somerville and Christopher Weaver, “Balwani Will get 13-Yr Sentence,” Wall Road Journal, December 8, 2022 (print version.)
Balwani, in case you haven’t adopted, was the president of Theranos, the agency that claimed to have a revolutionary blood check machine that . . . wasn’t. I’ve been following this since studying Unhealthy Blood: Secrets and techniques and Lies in a Silicon Valley Startup, John Carreyrou’s wonderful e book on Theranos.