Recently, while frauds have come to the fore in the crypto money world, there has also been a scandal that will go down in history in the world of technology and medicine. The fraud, also known as the Theranos scandal and the subject of documentaries, was sentenced to 11 years in prison.Elizabeth Holmes made history, but with fraud!
The year 2013 was considered to be an important year especially in the history of medicine, as Elizabeth Holmes emerged with the Theranos initiative, which she founded at the age of only 19, and released test devices that could perform detailed blood tests with only the amount of blood as a pin.
The Theranos venture has grown rapidly, reaching a valuation of $10 billion. Holmes took her place among the richest women entrepreneurs with her fortune of 4.5 billion dollars. However, the Theranos initiative was heading towards the biggest fraud case in the medical world.
Documents revealed by Forbes magazine based on internal confessions actually showed that during the launch, blood tests were performed with standard devices and then reflected as if they were done on the Theranos device. The Theranos device was actually giving wrong results.
Theranos’ downfall after the news was drastic. The U.S. pharmaceutical commission, health association, and securities commission launched one after the other investigations. Contracted drug distribution companies canceled the contracts and filed a lawsuit for compensation. Fraud lawsuits were filed against Holmes and the company founders.
Elizabeth Holmes, who went completely bankrupt and saw zero, escaped by reconciling some cases, but was sentenced to 11 years and 3 months in prison in the case in California. After that, he will be on parole for 3 years. Holmes, who has a 1-year-old child and is pregnant with the second, stated that he regretted it very much and was informed that he would appeal the sentence. There is also a documentary about Holmes released under the title The Inventor: Out for Blood in Silicon Valley.
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