• Ex-president of blood-testing startup also charged
  • Pair appear in federal court hours after Holmes quits as CEO

Elizabeth Holmes, the founder of the startup Theranos, and the former company president, Ramesh Balwani, have been criminally charged with fraud for allegedly making false claims about the effectiveness of the company’s blood testing.

The pair appeared before the US district court in San Jose on Friday, hours after Holmes stepped down as CEO of the company, and were charged with two counts of conspiracy to commit wire fraud and nine counts of wire fraud. Both were released on $500,000 bail and ordered to surrender their passports.

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