Corporate Crime Example: Theranos Fraud | A Level Sociology | Crime & Deviance

welcome to this T to you sociology topic video on crime and deviant in this video we're going to look at corporate crimes and the thoros fraud the thoros fraud often described as one of the biggest corporate scandals in recent history involved the rise and fall of a Silicon Valley biotech startup founded in 2003 by Elizabeth

Holmes thoros claimed to revolutionize medical Diagnostics with technology capable of conducting hundreds of blood tests using just a few drops of blood these promises attracted high-profile investors Partnerships with American Giants Walgreens and Safeway and a valuation of $9 billion at its peak however it was later revealed that the technology was largely nonfunctional

and the company engaged in deceptive practices to maintain its facade of success from a sociological perspective the thoros Scandal is a clear example of corporate crime involving unethical and illegal practices by an organization to maintain profit power and reputation Elizabeth Holmes founded thoros at the age of 19 with a vision to disrupt the

medical Diagnostics industry her proposed technology promised faster cheaper and more accessible blood tests which could be performed using just a finger prick over the next decade Holmes cultivated an image as a Visionary entrepreneur drawing comparisons to Steve jobes and attracting investments from prominent figures like rert Murdoch and the Walton family however investigations revealed that the thorus

devices were largely ineffective and incapable of Performing the range of tests that homes had claimed instead the company secretly used traditional testing machines from established manufacturers to process blood samples employees who questioned the technology or raised ethical concerns were silenced or fired meanwhile hes and her Chief Operating Officer Ramesh Sunni balwani continue to