Quite apart from the crushing losses for investors, this secrecy and cult-like nature had other real-world consequences, with many patients likely to have received erroneous blood test results.
Investors poured almost $1 billion into Theranos and three former U.S. cabinet secretaries, two former United States senators, a retired admiral and a retired Marine Corps general joined its board.
Taylor, who took over from her as CEO in June, said in the email cited by The Journal that Theranos was in default for a loan from Fortress Investment Group, which now has the right to take ownership of all of its assets.
News Vanilla Ice Was Trapped on the Quarantined Emirates Flight
Larry Coben said on Twitter that fellow passengers were asked to fill out CDC forms detailing where people have recently traveled. The Port Authority of NY and New Jersey, the organization operating the airport, was not immediately available for comment.
The company will be liquidated over the next six to 12 months, and plans to dole out its estimated $5 million in remaining cash to its unsecured creditors, according to the email sent out by Theranos General Counsel and CEO David Taylor.
Taylor said investment bank Jefferies "reached out on our behalf to over 80 potential sale counter-parties", but came away with no buyers. At its peak, the privately held company was valued at $9 billion.
Other high profile investors included Australian media mogul (and owner of news.com.au) Rupert Murdoch, former US Education Secretary Betsy DeVos, the founders of Walmart and the owner of the New England Patriots.
The Wall Street Journal, which reported the initial explosive allegations against Theranos, now reports that the firm will dissolve. She also assembled a board of directors that included the elite of political and corporate America, including Jim Mattis, the current USA defence secretary, two former secretaries of state - Henry Kissinger and George Shultz - and David Boies, the high-profile lawyer.
"She wowed them. I don't necessarily think that it was a sexual thing by any means ..." She touted the invention as an innovation that would change the health industry. She was also banned from serving as an officer or director of a public company for 10 years.
Instead, in a criminal indictment, the Justice Department says that Holmes and her then-boyfriend, former President and COO Ramesh "Sunny" Balwani, perpetrated "a multi-million dollar scheme to defraud investors, and a separate scheme to defraud doctors and patients".
China explores merging China Unicom, China Telecom
CT and China Unicom account for 19 percent and 20 percent, respectively, of the 1.49 billion mobile phone users in China. Thanks to government policy, China is slightly ahead of developed nations like US, South Korea, and Japan in 5G.
Deadly Storm Closes Busy Airport in Japan
Japanese media tallied at least nine deaths, and the Fire and Disaster Management Agency said almost 300 people were injured. Earlier this year, torrential rains lashed the west of the country, sparking flooding that killed more than 200 people.
Truck intentionally crashes into Dallas TV station
A few staff members kept reporting from a secure location as the incident unfolded about 6 a.m., the station said. FOX 4 reports that the man repeatedly drove into a side of the building with floor-to-ceiling windows.
China says retaliation ready if U.S. tariffs go ahead
The endpoint of the tariff tit-for-tat would be tariffs on all $US505 billion worth of goods the USA imports from China annually. In August, China outlined plans for its retaliatory measures, with dutieson $60bn of goods .