The Madoff of Digital Health: How Lies and the SEC’s Code of Silence Killed Babylon and Cost Investors $1.5 Billion

Sergei Polevikov
128 min readOct 10, 2023

Or, as Dr. David Watkins suggested, “Babylon Health, the Morally Bankrupt Unicorn — How Matt Hancock, the NHS, CQC, MHRA [and the SEC] Enabled a Billion Dollar Fraud”.

Disclaimer: All opinions expressed in this article are my own. My attempt was to be objective and to lay out the facts to the best of my knowledge. Any opinions and implications about Babylon Health and other characters in this article are just that — opinions and implications. I believe it’s ultimately up to regulators and the court system to decide on the degree of irregularities in the Babylon Health case. Although I draw parallels with notable criminal cases, it’s crucial to underscore the principle of presumed innocence until guilt is proven in court. This concept seems inverted in the United States, where prosecutors often present vivid narratives against accused individuals, which the media avidly disseminates to engage readers and viewers. Nevertheless, I’d like to remind you that judgments should be reserved until trial conclusions. In this article, I reference Sam Bankman-Fried and Charlie Javice — though it’s pertinent to note that Bankman-Fried’s trial commenced…

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Sergei Polevikov

Math geek, author & health AI founder. I share raw insights from digital health, drawing from my experiences, mistakes & triumphs, at sergeiAI.substack.com