Theranos Founder Fails to Pay Legal Counsel

A civil case has been filed against Theranos founder Elizabeth Holmes after Holmes allegedly failed to pay the attorneys representing her in a criminal case that alleges she committed fraud in California by taking blood samples from her clients despite the fact that she knew the blood-testing technology she was supposed to use it for was still in the development phase. 

As Holmes is a billionaire, the subsequent withdrawal of the attorneys defending her in the fraud case has raised speculation that Holmes is in dire financial straits.  Public records of the civil case filed show that her attorneys have alleged that Holmes has failed to pay their firm for over a year.  Especially telling is one sentence from the complaint that reads given “Holmes’s current financial situation, Cooley has no expectation that Ms. Holmes will ever pay It for Its services as her counsel.” 

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