Elizabeth Holmes may owe Rupert Murdoch $125 million, but he may not have much luck getting much of his money back.
A federal judge ordered Holmes on Tuesday to pay $452 million to investors she duped to build her hoax blood-testing business. Among the investors she bilked was Murdoch, who was one of Theranos’ largest investors. Holmes, however, has indicated she’s essentially broke.
Murdoch bought roughly 7.3 million shares of Theranos at $17 a share, according to court filings.
In a ruling ordering restitution, U.S. District Judge Edward Davila found that investors’ losses are tied to Holmes’ fraud. “For each of these investors, the Court identified specific reliable evidence indicating that they were induced to invest in Theranos by Defendants’ misrepresentations as part of the fraud conspiracy,” he wrote.
Natalie Ravitz, chief of staff to Murdoch in 2014 to 2015 and manager of his personal investments, testified to the Securities and Exchange Commission that...
A federal judge ordered Holmes on Tuesday to pay $452 million to investors she duped to build her hoax blood-testing business. Among the investors she bilked was Murdoch, who was one of Theranos’ largest investors. Holmes, however, has indicated she’s essentially broke.
Murdoch bought roughly 7.3 million shares of Theranos at $17 a share, according to court filings.
In a ruling ordering restitution, U.S. District Judge Edward Davila found that investors’ losses are tied to Holmes’ fraud. “For each of these investors, the Court identified specific reliable evidence indicating that they were induced to invest in Theranos by Defendants’ misrepresentations as part of the fraud conspiracy,” he wrote.
Natalie Ravitz, chief of staff to Murdoch in 2014 to 2015 and manager of his personal investments, testified to the Securities and Exchange Commission that...
- 5/17/2023
- by Winston Cho
- The Hollywood Reporter - Movie News
Ramesh “Sunny” Balwani, Theranos founder Elizabeth Holmes’ right-hand man and former boyfriend, has been convicted of 12 fraud counts in federal court in San Jose, California.
Balwani was accused of defrauding investors as well as patients putting money into Holmes’ biotech firm. In total, he faced 10 counts of wire fraud and two counts of conspiracy to commit wire fraud.
The biotech startup’s Chief Operating Officer was formerly charged with past business partner Holmes, who was found guilty of four counts of wire fraud and conspiracy to commit fraud against investors in January.
Also Read:
Emmy Predictions for Limited Series: Too Many Scammers, Not Enough Room
His tasks at Theranos included overseeing the company’s relationship with Walgreens, monitoring labs and managing software, finances and investor relationships.
The businessman met Holmes before she started college, and his investment of 10 million into the company kept Holmes afloat while he came aboard as...
Balwani was accused of defrauding investors as well as patients putting money into Holmes’ biotech firm. In total, he faced 10 counts of wire fraud and two counts of conspiracy to commit wire fraud.
The biotech startup’s Chief Operating Officer was formerly charged with past business partner Holmes, who was found guilty of four counts of wire fraud and conspiracy to commit fraud against investors in January.
Also Read:
Emmy Predictions for Limited Series: Too Many Scammers, Not Enough Room
His tasks at Theranos included overseeing the company’s relationship with Walgreens, monitoring labs and managing software, finances and investor relationships.
The businessman met Holmes before she started college, and his investment of 10 million into the company kept Holmes afloat while he came aboard as...
- 7/7/2022
- by Dessi Gomez
- The Wrap
Exclusive: The world of crypto currency and non-fungible tokens is becoming increasingly mainstream – so much so that you can now buy your morning Starbucks using Bitcoin.
This world is now extending to television.
Beacon Pictures, the company behind long-running ABC drama Castle and feature films such as Air Force One, is developing what it calls the first scripted series about and financed by crypto.
The comedy Hold on for Dear Life is being developed as a 10-part series, with principal photography set to commence in August in Puerto Rico.
The show is being financed using blockchain technology – it will “tokenize” portions of its profits into a cryptocurrency token, built on Ethereum, a technology that is essentially digital money, allowing investors to receive pro rata net profits from the series directly into their digital wallets.
It will also mint non-fungible tokens (Nft) – one of the most buzzed about new technologies among...
This world is now extending to television.
Beacon Pictures, the company behind long-running ABC drama Castle and feature films such as Air Force One, is developing what it calls the first scripted series about and financed by crypto.
The comedy Hold on for Dear Life is being developed as a 10-part series, with principal photography set to commence in August in Puerto Rico.
The show is being financed using blockchain technology – it will “tokenize” portions of its profits into a cryptocurrency token, built on Ethereum, a technology that is essentially digital money, allowing investors to receive pro rata net profits from the series directly into their digital wallets.
It will also mint non-fungible tokens (Nft) – one of the most buzzed about new technologies among...
- 3/23/2021
- by Peter White
- Deadline Film + TV
South by Southwest has unveiled its final round of keynotes and featured speakers including Damon Lindelof, Trent Reznor, Atticus Ross, Lulu Wang, Janelle Monae, Judd Apatow, Kenya Barris, Rashida Jones, Annie Clark, Carrie Brownstein, Kevin Feige, The Russo Brothers, Spike Jones, Julianne Moore, Robin Thede and an impressive mix of Hollywood names that are making moves and changing the industry. The 34th edition of the SXSW annual conference will take place in Austin from March 13 to 22.
Nine Inch Nails group members Reznor and Ross join Emmy Award-winning Executive Producer and writer Damon Lindelof to discuss their collaboration on the HBO series Watchmen while The Farewell director Wang, fresh off her Independent Spirit Award win, will also deliver a keynote. Grammy-nominated singer Monae, who is also the star of the second season of Amazon’s Homecoming and the upcoming film Antebellum will also take the stage as a keynote.
“Today’s...
Nine Inch Nails group members Reznor and Ross join Emmy Award-winning Executive Producer and writer Damon Lindelof to discuss their collaboration on the HBO series Watchmen while The Farewell director Wang, fresh off her Independent Spirit Award win, will also deliver a keynote. Grammy-nominated singer Monae, who is also the star of the second season of Amazon’s Homecoming and the upcoming film Antebellum will also take the stage as a keynote.
“Today’s...
- 2/11/2020
- by Dino-Ray Ramos
- Deadline Film + TV
South by Southwest’s speaker lineup is always an embarrassment of riches and this year is no exception, as the festival’s final round of keynotes and featured speakers includes Trent Reznor, Atticus Ross, Damon Lindelof, St. Vincent, Carrie Brownstein, Janelle Monáe, Lulu Wang, Soo-Man Lee, and Capitol Music Group’s Michelle Jubelirer. They join Judd Apatow, Noam Chomsky, Jameela Jamil, Rashida Jones, Spike Jonze, Kim Kardashian West, Jeffrey Katzenberg, Julianne Moore and lots more.
The South by Southwest music, film and technology conferences take place March 13-22 in Austin, Texas, as always. Dates and times for all of the Keynote and Featured Sessions have also been added to the online schedule.
The Keynotes announced today include Oscar, Golden Globe and Grammy Award-winning composers Trent Reznor and Atticus Ross — who also comprise Nine Inch Nails, which will be inducted into the Rock and Roll Hall of Fame this Spring — in conversation with writer,...
The South by Southwest music, film and technology conferences take place March 13-22 in Austin, Texas, as always. Dates and times for all of the Keynote and Featured Sessions have also been added to the online schedule.
The Keynotes announced today include Oscar, Golden Globe and Grammy Award-winning composers Trent Reznor and Atticus Ross — who also comprise Nine Inch Nails, which will be inducted into the Rock and Roll Hall of Fame this Spring — in conversation with writer,...
- 2/11/2020
- by Jem Aswad
- Variety Film + TV
The California Supreme Court today blocked a proposal that would split the state into three from reaching the November ballot, according to multiple sources.
The state’s high court said the measure, Proposition 9, shouldn’t be on the ballot because of the “substantial” questions raised about its validity. The court issued a brief order saying it intervened because the potential harm from permitting the measure to remain on the ballot outweighs any possible damage caused by delaying the measure for a future election.
The Planning and Conservation League filed a lawsuit arguing that the proposition amounted to a change to the state’s Constitution. As such, it requires a two-thirds vote of both legislative chambers before the matter could be put to voters.
Backed by billionaire venture capitalist Tim Draper, Proposition 9 would carve the state into thirds: Northern California, encompassing San Francisco and 39 other counties; California, sweeping in Los Angeles...
The state’s high court said the measure, Proposition 9, shouldn’t be on the ballot because of the “substantial” questions raised about its validity. The court issued a brief order saying it intervened because the potential harm from permitting the measure to remain on the ballot outweighs any possible damage caused by delaying the measure for a future election.
The Planning and Conservation League filed a lawsuit arguing that the proposition amounted to a change to the state’s Constitution. As such, it requires a two-thirds vote of both legislative chambers before the matter could be put to voters.
Backed by billionaire venture capitalist Tim Draper, Proposition 9 would carve the state into thirds: Northern California, encompassing San Francisco and 39 other counties; California, sweeping in Los Angeles...
- 7/18/2018
- by Dawn C. Chmielewski
- Deadline Film + TV
Billionaire Tim Draper wants people to watch his ABC Family unscripted series. The founder of Draper University and one of the cast members on the Disney-owned cable network's Startup U has offered a sizable charity donation in exchange for viewers to the freshman series. "Tell all your friends to watch StartupU Tuesday at 10:00 on ABC Family. I will give away $1 million to charities if we get 1 million viewers this week," Draper wrote on his Facebook page.
- 8/31/2015
- by Lesley Goldberg
- The Hollywood Reporter - Movie News
Third generation venture capital investor and Draper University founder Tim Draper appeared before the Television Critics Association this morning to talk about his new ABC Family reality series Startup U. Set on the university’s Silicon Valley campus — where, Draper says, his immersive program “transforms ordinary people into heroic entrepreneurs” — Startup U stars Draper, his former student turned program director Charlie Taibi, 26, Draper University entrepreneur in residence Sequoia Blodgett, 31, and ten students eager to become business legends. Draper told reporters that some 400 students from around the globe have gone through the program, launching 220 companies and scoring $22 … Continue reading →
The post TCA: ABC Family’s Startup U star Tim Draper: “We teach future, not history” appeared first on Channel Guide Magazine.
The post TCA: ABC Family’s Startup U star Tim Draper: “We teach future, not history” appeared first on Channel Guide Magazine.
- 8/5/2015
- by Lori Acken
- ChannelGuideMag
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