Holmes surrenders Theranos, pays $500K after ‘massive fraud’

  • In this Nov. 2, 2015, file photo, Elizabeth Holmes, founder and CEO of Theranos, speaks at the Fortune Global Forum in San Francisco. On Wednesday, March 14, 2018, the Securities and Exchange Commission filed charges against Holmes and her company for defrauding investors. (AP Photo/Jeff Chiu, File)

NEW YORK — 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.”

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