Post-Mortem on Theranos—Where Were the Controls?

In a commentary on Compliance Week, Tom Fox questions how a massive, years-long fraud at Theranos was conducted and allowed to continue. "[W]as it a massive fraud perpetrated by a select few; a scheme concocted by a visionary who could not let go of her vision when she could not translate it into reality; a complete, total, and utter failure in corporate governance by both senior management and the board of directors; or a Greek tragedy denoting a fall from grace by an irresistible visionary who came too close to the gods?" Fox asks.