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What are some notable scams in history that went unnoticed for so long? (lemmy.ml)

submitted 11 months ago by [email protected] to c/[email protected]

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[–] [email protected] 14 points 10 months ago* (last edited 10 months ago) (1 children)

Theranos ‘company’.

[–] [email protected] 3 points 10 months ago

Oh yes, I've heard about this. Thanks for reminding.

Adding more details for others:

Founded in 2003 by then 19-year-old Elizabeth Holmes, Theranos raised more than US$700 million from venture capitalists and private investors, resulting in a $10 billion valuation at its peak in 2013 and 2014. The company claimed that it had devised blood tests that required very small amounts of blood and that could be performed rapidly and accurately, all using compact automated devices which the company had developed. These claims were later proven to be false.

https://en.wikipedia.org/wiki/Theranos