back to article Founders of medical science upstart uBiome once likened to Theranos now indicted for, you guessed it, fraud

Jessica Richman, 46, and Zachary Apte, 36, co-founders of San Francisco-based medical testing startup uBiome, have been indicted on civil and criminal charges for allegedly bilking investors out of $60m. The SEC, America's financial watchdog, charged the entrepreneurs with misrepresenting uBiome's success by falsely claiming …

  1. Anonymous Coward
    Megaphone

    American health care

    For those of you across the pond, the fraud is enabled by America's health care system. Any doctor can, essentially, prescribe any test or drug without regard to its cost, appropriateness, or whether the patient's insurance will cover it. Doctors are visited by sales reps pushing their company's solutions. Patients are bombarded with slick TV ads promoting brands and telling them to ask their doctor about prescribing them. It is a system designed to allow fraud and abuse.

    1. julian.smith
      FAIL

      What's the problem?

      Capitalism at work.

      What were you expecting? Patient care

    2. Anonymous Coward
      Anonymous Coward

      Re: American health care

      It works the same way where you have a national health system - where often some analysis are outsourced to external private labs.

      The problem is that doctors now believe they can make a lot of money at patients expenses - and more and more people choose to become doctors because of money and social status - not because they wish to cure people.

      Medical companies know it very well - their sales reps, here boastfully called "scientific informers", they don't want to be regarded as vulgar sales reps, were always known to offer doctors "prizes" in exchange for prescribing their drugs. Here when the system switched to "electronic prescriptions" that made far easier to check which doctors prescribe what, many doctors complained and tried to stop it.

      It's all down to one's ethics - and that's sorely lacking, lately.

      1. Yet Another Anonymous coward Silver badge

        Re: American health care

        >It works the same way where you have a national health system - where often some analysis are outsourced to external private labs.

        Although typically the NHS outsourced lab doesn't then give your GP a BMW

  2. don't you hate it when you lose your account
    Mushroom

    Shocked

    Such good examples of a fine money making scam should be treated this way.

    Surely public office should be thrust on them.

    I think my sarcasm glad just ruptured.

  3. Aristotles slow and dimwitted horse

    Anyone know?

    Anyone know what is currently going on in the Theranos case? I've been following it since reading the excellent book Bad Blood, but it all seems to have gone a little quiet of late.

    Ta.

    1. cd

      Re: Anyone know?

      The case is delayed because she is pregnant.

      1. Anonymous Coward
        Anonymous Coward

        Re: Anyone know?

        Is this normal in the American justice system, that a case is delayed (and the 6th Amendment requirement of a speedy trial is ignored) when the defendant is pregnant?

  4. Anonymous Coward
    Anonymous Coward

    SmartGut

    It took some time though, 7 years from startup to "gone like the wind" indgut? Gut feeling? Endless combinations...

    1. sitta_europea Silver badge

      Re: SmartGut

      [quote]

      It took some time though, 7 years from startup to "gone like the wind" ...

      [/quote]

      That's not long at all. For [B]much[/B] longer than that I've been trying to get the UK government to stop dangerous (especially Chinese) electrical goods which often carry forged regulatory approval markings being sold online (nowadays, often by Amazon).

      Search Amazon for dp/B08F2JV1QW to see what an illegal 13A plug looks like. There's no fuse in this kind of plug. That can be very unfortunate for 13A-capable equipment when it's plugged into the 30A-capable British ring main, which is the reason for the requirement for a fuse in the plug.

  5. David 132 Silver badge
    Happy

    The liquidation auction should be fun...

    "Now, on to Lot #571. Two thousand vials of unmarked brown substance. What am I bid, ladies and gentlemen?"

    (Feel free to insert a pun about ass-et seizures here)

  6. Real Ale is Best

    Alternative "medicines"

    I'd like the producers of alternative medicines, such as homoeopathy, prosecuted for making unfounded and unevidenced claims about their products.

    I'm deeply disturbed that companies such as Boots the Chemist sell these so-called cures to the gullible public, rather than providing educational material on how to improve lifestyle; changes that have proved to improve health.

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