Elizabeth Holmes was once celebrated as a rising Silicon Valley star and even called the youngest self-made female billionaire in the United States. She founded Theranos, a startup that promised to transform blood testing with a simple finger-prick device capable of running multiple diagnostics from just a few drops of blood.

The company’s claims generated enormous attention, attracting major investors, media praise, and high-profile partnerships. At its peak, Theranos was widely seen as a breakthrough in medical technology that could make traditional lab testing faster, cheaper, and more accessible.

However, investigations eventually revealed that the technology did not function as advertised. Regulatory scrutiny exposed serious problems with the company’s testing methods and raised concerns about misleading claims made to investors and patients.

Ramesh Balwani, who served as president of the company, was also implicated alongside Holmes. Both were charged with wire fraud and conspiracy following federal investigations that uncovered widespread deception within the company.