Trial of ex-superstar Holmes begins

Elizabeth Holmes had left the US elite Stanford University at the age of only 19 to found Theranos in 2003. The promise: With a few drops of blood and their technology, dozens of diseases, including cancer and HIV, could be diagnosed - much faster and cheaper than in conventional laboratories. But the announcement turned out to be a big bluff. Trial of ex-superstar Holmes begins. The startup seemed to be a safe bet: Political giants such as ex-US Secretary of State Henry Kissinger and later Defense Minister James Mattis took over board positions, while media mogul Rupert Murdoch invested millions. Forbes magazine estimated Holmes' fortune in 2014 at $ 3.6 billion. That made her the youngest billionaire to not inherit her fortune. The charismatic company founder was hailed as a visionary and compared to Apple founder Steve Jobs. The steep ascent was followed by a spectacular crash: in 2015 an investigative report by the "Wall Street Journal" raised considerable doubts about Theranos' technology. Even if Holmes initially stubbornly denied all allegations, her house of cards continued to falter. A series of other revelatory articles finally exposed the supposed success story as a hoax. In fact, Theranos' alleged innovations did not work; instead, the company apparently secretly used conventional testing methods. The fraud charges followed in 2018. Prosecutors allege Holmes knew the devices were not working. And she lied to investors, doctors and patients. The charge is multiple fraud and conspiracy to commit fraud. The Theranos case is by no means the largest health fraud case, says lawyer Jason Mehta, who specializes in such cases. "But in terms of media interest and attention, it is certainly one of the biggest cases in the past ten years."