Theranos CEO Elizabeth Holmes. Fortune Global Forum June 18, 2018 Theranos founder fooled investors with the promise to revolutionise healthcare – it offers three big lessons for companies Anand Narasimhan, International Institute for Management Development (IMD) and Nancy Lane, International Institute for Management Development (IMD) Elizabeth Holmes has been charged with ‘massive fraud’. She maintains her innocence but what lessons can boards take away from the whole affair?