Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

Post-mortem on Theranos—where were the controls?

Tom Fox | March 22, 2018

The post-mortems on Theranos and its founder, chairman, and CEO, Elizabeth Holmes, continue. As reported in Compliance Week, the company raised more than $700 million from investors in what was termed by the Securities and Exchange Commission as a “massive, years-long fraud.”

But was it a massive fraud perpetrated by a select few; a scheme concoted by a visionary who could not let go of her vision when she could not translate it into reality; a complete, total, and utter failure in corporate governance by both senior management and the board of directors; or a Greek tragedy denoting a fall from grace by an irresistible visionary who came too close to the gods? Yes, yes, yes, and yes.

It is the lack of business reality that presaged the fall of Theranos. All great stories have a foundation myth. For Theranos and...

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.