This case covers the rise and fall of Theranos, the company founded by Elizabeth Holmes in 2004 to revolutionize the blood testing industry by creating a device that could provide from a small finger prick the same results and accuracy as intravenous blood draws. As founder and CEO, Holmes was hailed as the most successful female tech entrepreneur ever. In October 2015, however, aWall Street Journalarticle exposed internal struggles and questioned the startup's trajectory. Subsequent investigations revealed that Theranos, despite commercial operations in 40 retail locations, lacked a functioning product.

Q. 1 What was the nature of the fraudulent practice? Which category of fraud does it fall into?

Q.2. What was the extent and magnitude of fraud?

Q.3 How that fraud was planned and executed?

Q.4. What were financial and other losses caused by that fraud?

Q.5. What could have been done to avoid or prevent that fraud?

This could be a fraud in a public limited company or a private business.