Theranos Investor Has Unique Plan to Get Money Back

Marc Ostrofsky plans to sell an NFT of his otherwise worthless stock certificate
By John Johnson,  Newser Staff
Posted Dec 16, 2021 11:23 AM CST
Theranos Investor Has Unique Plan to Get Money Back
Elizabeth Holmes walks into federal court in San Jose, Calif., on Nov. 22, 2021.   (AP Photo/Nic Coury)

(Newser) – Like a lot of Theranos investors, Marc Ostrofsky lost a hefty sum when the blood-testing company went broke. But Ostrofsky thinks he has a way to get his $150,000 back, and maybe even more. CNBC reports that he plans to sell his Series A stock certificate as a nonfungible token, or NFT. "I may be the only investor to make money off of Theranos when all is said and done," the Houston investor tells the outlet. The certificate will be auctioned Thursday via NFT auctioneer OpenSea. The winning bidder will be able to collect the physical stock certificate, along with the digital version.

The move comes as closing arguments get underway in the fraud trial of Theranos founder Elizabeth Holmes, who's fighting 11 separate charges that she lied to investors and patients about what Theranos could do. Prosecutors go first on Thursday, followed by the defense, and the Wall Street Journal reports that the case might be in the jury's hands as early as Friday. Ostrofsky, for his part, recalls being persuaded to invest by Holmes herself. "She was very smart and she knew what she was doing," he says. "She was very good at pitching and had strong convictions in what she believed." (No word on how much, if anything, Ostrofsky might get, but some NFTs go for crazy prices.)

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