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Wednesday, 03/14/2018 9:19:23 PM

Wednesday, March 14, 2018 9:19:23 PM

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NEW YORK (AP) -- Elizabeth Holmes, a Stanford University dropout once billed as the "next Steve Jobs," has forfeited control of Theranos, the blood-testing startup she founded, and will pay $500,000 to settle charges that she oversaw a "massive fraud."

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

Could Simpson and Stall be next?
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