Falsifying data to obtain regulatory approval is definitely illegal, and federal regulations allow the government to hold corporate officers personally liable.

It has yet to be proven that Theranos did in fact falsify data, though.

Given how things are looking right now, Elizabeth might want to start preparing a shipment of orange turtlenecks to be delivered to her in the big house.

She is very well connected. I will not be surprised if she walks away from the mess in black and not orange.

Not a lawyer but "the study submitted by Theranos last year to win the agency’s approval for a herpes test was tainted by breaches in research protocol" sounds iffy.