Theranos fraudster Elizabeth Holmes says she cannot afford to pay back victims
bbc.com
bbc.com
My guess is that most of the investors money was spent by the Theranos company.
Holmes got about $2 millon in total salary as CEO.
She got $25 million using promissory notes, which I think means a personal loan secured on her company stock. She has paid back zero dollars of that.
She never sold any of her shares.
It is plausible to me that after living a wealthy CEO lifestyle, asset seizures, and paying lawyers she does not have much money or assets left.