Elizabeth Holmes, a Stanford University sophomore studying chemical engineering, dropped out of school to pursue her startup, Theranos, which she founded in $2003$ at age $19.$ The name combines the words therapy and diagnosis. In $2014,$ Forbes Magazine named Holmes to the American billionaire list, reporting she owns a $50\%$ stake in the startup, pinning her personal wealth at $$4\mathrm{.}5$ billion.

The trial showed that Holmes misrepresented Theranos$$s financial condition and prospects to potential investors. For example, the evidence showed that Holmes represented to investors that Theranos would generate over $$100$ million in revenues and break even in $2014$ and that Theranos expected to generate approximately $$1$ billion in revenues in $2015$ when, in truth, she knew Theranos would generate only negligible or modest revenues in $2014$ and $2015.$

Describe how the fraud at Theranos worked with the analyzer, testing, and other important facts?

As a forensic accountant$/$investigator$,$ how would you examine and collect the evidence for legal purposes?

Who else was involved in the fraud besides Elizabeth Holmes? Can one or two persons commit this level of fraud, or were more employees involved? Is there a requirement to have a charismatic person at the top leading fraud?