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Federal authorities on Thursday charged two co-founders of uBiome, a microbiome startup that rose to Silicon Valley prominence in 2018, with defrauding investors of $60 million.

The Securities and Exchange Commission complaint alleges that Jessica Richman, uBiome’s former chief executive officer, and Zachary Apte, its former chief scientific officer, misled investors by peddling uBiome as a successful startup when its business depended on deceiving doctors and health insurers.

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