Skip to main content

We’ve learned a lot about Theranos over the last seven weeks of founder Elizabeth Holmes’ fraud trial, and almost none of it puts her or the company in a positive light. But here’s a helpful reminder that at least some good came of the whole thing: It made former Education Secretary Betsy DeVos sad.

Lisa Peterson, the DeVos family's private equity investment manager, said during her testimony that the family even doubled its investment, from $50 million to nearly $100 million, after Holmes dazzled them during a pitch meeting.

Peterson also said that Holmes was "handpicking" super-wealthy families to invest in the company, despite the fact that she knew the blood testing equipment that Theranos manufactured didn't work, according to the Washington Post. When prosecutors asked if Peterson believed that Holmes singled out the DeVos family, Peterson answered, "very much so."

Last week in court, one former project manager for Theranos testified that international media mogul Rupert Murdoch had also been targeted by Holmes. He, in turn, invested $125 million into Theranos.

Theranos' Elizabeth Holmes accused of bilking Betsy DeVos' family out of $100 million [Salon]

For more of the latest in litigation, regulation, deals and financial services trends, sign up for Finance Docket, a partnership between Breaking Media publications Above the Law and Dealbreaker.


Martin Shkreli

As Ever, Martin Shkreli Gets The Spotlight All To Himself

This time, at his upcoming antitrust trial.


Elizabeth Holmes’ Courtroom Vacation Ends

It was fun while it lasted. Useful, too.


With Theranos Lawsuit, Walgreens Hoping To Squeeze Single Drop Of Blood From Stone

The pharmacy might want to use some of Theranos's magic technology to see that cash.

(Getty Images)

$15 Million Escrow Account Enough To Make $410 Million Fraud Allegations Go Away

There may be less than meets the eye in the SEC’s case against p.e. firm StraightPath Venture Partners.


Hotlanta A Hotbed Of Hedge Fund, Private Equity Fraud

Allegedly. What I can tell you from on-the-ground reporting is that it is also very, very hot in a literal sense.


Even Elizabeth Holmes' Turtleneck Has Abandoned Elizabeth Holmes

We have seen the Theranos CEO's rock bottom, and it's rocking a collar.