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.
