Theranos, a blood-testing startup once valued at 9 billion dollars on claims its technology could run hundreds of tests from a single finger-prick of blood, collapsed after investigative reporting and regulatory inspections revealed the technology did not work as claimed and the company had used conventional lab equipment while misleading investors, regulators and patients. Founder Elizabeth Holmes was convicted of investor fraud in 2022 and sentenced to more than 11 years in prison, and the company dissolved in September 2018, becoming one of the most prominent Silicon Valley fraud cases.
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Event TypeCorporate fraud scandal 1 Cross-Tradition Connections
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