THE OBSERVER: Once the world’s youngest female self-made billionaire, the former head of Theranos is facing fraud charges and possible jail time
The rise and fall of the blood testing startup Theranos turned the tech world upside down and captured the attention of millions beyond Silicon Valley, inspiring multiple books, documentaries and a television series.
Theranos set out to revolutionize the medical testing space, reaching a valuation of $10bn before the capabilities of its core technology were revealed to be largely fabricated. Now, its founder and former leader, Elizabeth Holmes, is about to face the music.
Holmes, 37, is facing trial in a California courtroom, charged with defrauding Theranos’s patients and investors. She could spend up to 20 years in prison, and has pleaded not guilty.
“This is a bellwether case,” said Jason Mehta, a Florida attorney with expertise in federal fraud cases in the health industry. “It has emerging technology and the typical marketing bravado of a startup, all in the crosshairs of the federal criminal justice system.” » | Kari Paul | Sunday, August 29, 2021
‘People wanted to believe’: reporter who exposed Theranos on Elizabeth Holmes’ trial »
