Question

Elizabeth Holmes started the medical testing company Tharanos and promised innovative technology that would use a simple blood test to diagnose an unprecedented number of diseases. However, Holmes ended up facing criminal charges for fraud and her company, once worth $9 billion, no longer exists—why?
Possible Answers:
Her blood tests actually injected patients with several dangerous infections. Her blood tests actually injected patients with several dangerous infections. Her blood tests diagnosed all patients with cancer, even if they were 100 percent healthy. Her blood tests diagnosed all patients with cancer, even if they were 100 percent healthy. She sold her technology to investors as if it existed, but it did not. She sold her technology to investors as if it existed, but it did not. Her technology was found to be faulty once it was put into use.

Answer 1

Elizabeth Holmes faced criminal charges for fraud primarily because she sold her technology to investors as if it existed, but it did not. While her company, Theranos, promised groundbreaking blood testing technology, investigations revealed that the devices did not work as claimed and the technology was largely unproven. This led to significant legal repercussions and the eventual collapse of the company.