How Phonies and self-promoters came to rule the world

Almost immediately, reporters revealed such a close relationship between Boeing and the Federal Aviation Authority that Boeing’s own people had virtually done the FAA safety certification of the new aircraft. Entrepreneur Elizabeth Holmes raised $US900m before being indicted for fraud and conspiracy.Credit:AAP
One of the the most astonishing stories of deception of recent times is that of Elizabeth Holmes, a Stanford University dropout who raised $US900 million for a Silicon Valley company, Theranos, based on shoddy blood-testing science that ended up risking the lives of both patients and healthy people. But almost as repellent is the roll-call of powerful and wealthy people, especially older men, who, apparently blinded by Holmes’s looks, fake science and confidence, took board positions, invested in Theranos, or both, often, according to news reports, without audited financial statements.

Source: www.theage.com.au