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https://nytimes.com/2021/08/30/technology/trial-elizabeth-holmes-theranos.html?“She committed a fraud,” said Dr. Phyllis Gardner, a Stanford medical professor who was an early Theranos skeptic. “She harmed many patients. She bilked people out of their money.”
Increased scrutiny from regulators and investors revealed further problems and brought accusations of deception, leading to civil fraud charges from the Securities and Exchange Commission and a lawsuit from investors and Walgreens.
By 2016, Forbes had lowered its estimate of Ms. Holmes’s net worth from $4.5 billion to nothing. In 2018, she settled with the S.E.C. and investors. That same year, Theranos shut down.