Theranos founder known as ‘next Steve Jobs’ pays $500,000 to settle ‘massive fraud’ charges

NEW YORK — Elizabeth Holmes, a Stanford University dropout once billed as the “next Steve Jobs” has forfeited control Theranos, the blood testing startup she founded, and will pay US$500,000 to settle charges that she oversaw a “massive fraud.”

Under an agreement with the Securities and Exchange Commission on Wednesday, Holmes is barred from serving as an officer or director of a public company for 10 years. The SEC said it will pursue its case against the president of the company,...

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