Alicia McElhaney SEC Charges Theranos' Holmes and Balwani With "Massive Fraud" Theranos, once the biotech darling of Silicon Valley, has fallen far. These are the first charges brought by U.S. government regulators against the company. Alicia McElhaney March 14, 2018 Elizabeth Holmes, founder and chief executive officer of Theranos Inc. (Photo credit: David Paul Morris/Bloomberg)