Theranos CEO charged with $700 mn fraud, fined $500,000

US blood-testing startup Theranos' CEO Elizabeth Holmes has agreed to pay $500,000 to settle charges that she raised over $700 million fraudulently. Regulators said Holmes and former President Ramesh 'Sunny' Balwani made false statements about the company's technology and financial performance. Theranos had claimed to have developed a device that conducted 240 blood tests with just a few drops.