The 19-year-old girl fooled the world to become a billionaire.
Elizabeth Holmes, the youngest billionaire to fool the world, is facing the sword of life imprisonment. How did a 19-year-old woman fool the globe to become a billionaire?
According to foreign media reports, Elizabeth Holmes, who wanted to be Steve Jobs, even wore clothes like hers and became the youngest self-made billionaire in history, but her ‘revolution’ in the world of medicine.
It was actually a hoax and now that the veil has been lifted, Elizabeth is facing the sword of 20 years in prison and millions of dollars in fines.
Elizabeth Holmes’ company, Theranos, was worth 9 billion, claiming that their technology could perform hundreds of tests with just a few drops of blood, even diagnosing high levels of cancer and cholesterol.
In fact, it was a lie and deception that led to the investment of millions of dollars in Elizabeth Holmes’ company by big names and technology companies.
In August 2015, the US Department of Health and Human Services (FDA) launched an investigation into Theranos, which revealed that it had “major flaws” in its test system.
Wall Street Journal journalist John Carew also published an investigation that led to the company’s downfall.
According to media reports, the owner of Wall Street General, Rupert Murdoch, also had an investment in Theranos.
Elizabeth Holmes was informed that the news was about to be published in the Wall Street Journal, so she contacted Murdoch directly and demanded that the news be stopped, which Murdoch same he trusty his editor if the news.
If there were any shortcomings or errors, they would not publish it, but the news was published and proved to be an ‘atom bomb’ for Theranos.
Journalist Carrero same within the report that Theronos’ blood testing machine ‘Edison’ couldn’t offer correct results.
So for the samples we get, we use the same conventional machines that everyone is using, but it turns out that these results are actually due to their ‘modern technology’.
Holmes was banned from the lab testing industry for two years in July 2016, and Theranos was shut down in October, as well as its lab operations and centers.
Following the completion of the investigation, in March 2018, Theranos, Elizabeth Holmes, and Ramesh Balwani were charged with “open fraud” by the Securities and Exchange Commission.
Following the lawsuit, Elizabeth relinquished all of her financial assets and rights to the company, paid a Five million dollars fine, and later returned 18.9 million in shares of Theranos.
Elizabeth has also been banned from becoming a director or officer of any company for 10 years on charges of open fraud by US authorities, yet she faces the sword of life imprisonment and fines.
In mid-2019, Elizabeth married William Evans, 27, the son of the Evans Hotel Group owner, and the two are currently living in San Francisco.
But the most important question that also stands nowadays is however did a 19-year-old woman fool the world’s biggest personalities?