https://www.cnbc.com/2018/06/15/theranos-chief-elizabeth-holmes-arrested-on-federal-criminal-charges-.html > Elizabeth Holmes, the college dropout who founded the blood-testing company Theranos, and the company's ex-president Ramesh "Sunny" Balwani were indicted Friday on criminal charges related to false claims they made about the accuracy of their testing devices. > Both Holmes, who stepped down as CEO of the crippled company earlier Friday, and Balwani appeared in U.S. District Court in San Jose, Calif., for arraignment on two counts of conspiracy to commit wire fraud and nine counts of wire fraud.