Stem cells show a lot of promise and legitimate research is ongoing. However there are scams which target vulnerable patients. People with chronic illnesses or those where there is no known effective therapy are especially good targets for those selling snake oil.
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FDA has won a case against such a company which was using patient derived stem cells to "treat" eye diseases. They did this with absolutely no clinical evidence and despite and FDA warning to cease which the company ignored claiming the FDA had no right to regulate what they were doing.
The link includes this paragraph:
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Kristin Comella, the Chief Scientific Officer and very much the public face and voice of the company, has a Ph.D in Stem Cell Biology. It is noteworthy that she earned this degree only after she held the Chief Scientific Officer position for several years. Prior to that, her highest degree was a M.S. in chemical engineering. It is equally noteworthy that her Ph.D was awarded by the Panama College of Cell Science, an unaccredited offshore virtual college that hands out PhD degrees in 3 years for tuition of $2,950/year ($2,700 if paid in advance)
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This court decision came too late for the several patients blinded by this stem cell clinic