A Stanford dropout convinced the world she had invented a blood test that could run hundreds of analyses from a single finger prick. She raised seven hundred million dollars. She built a nine billion dollar company. And every word of it was a lie.

In this episode of The Paper Trail, we trace the rise and fall of Elizabeth Holmes and Theranos. From a nineteen-year-old's pitch to Silicon Valley's biggest fraud, we follow the money, the technology that never worked, and the whistleblowers who brought it all down.

CHAPTERS:
0:00 - [Introduction]
0:30 - [The Stanford Dropout]
3:00 - [Building the Pitch]
5:00 - [Nadia Joins - The Money Trail]
10:00 - [The Board of Directors]
13:00 - [Inside Theranos]
17:00 - [The Walgreens and Safeway Deals]
21:00 - [Patients at Risk]
24:00 - [Whistleblowers and the Journal]
29:00 - [The Regulatory Collapse]
32:00 - [Trial and Sentencing]
37:00 - [The Balwani Dynamic]
40:00 - [Lessons and Legacy]
42:00 - [Next Episode Preview and Outro]

Elizabeth Holmes, Theranos, blood testing fraud, Silicon Valley, Walgreens, SEC fraud charges, wire fraud, John Carreyrou, Tyler Shultz, forensic accounting, Ponzi scheme, financial crime investigation

This episode was created with AI assistance.

The $65 Billion Lie — Bernie Madoff

For nearly two decades, Bernie Madoff骗了 thousands of investors with the largest Ponzi scheme in history. A former NASDAQ chairman who promised consistent returns — and delivered nothing but lies.

This is the story of how one man stole sixty five billion dollars, and why nobody stopped him.

CHAPTERS:
0:00 — Opening
0:30 — The Man Behind the Mask
4:00 — The Scheme
8:00 — The Investigation
12:00 — The Victims
16:00 — The Confession
19:00 — The Aftermath
21:00 — Next Episode Teaser

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