Taylor took over in June for Elizabeth Holmes, the founder of the company who is now facing criminal fraud charges.
Quite apart from the crushing losses for investors, this secrecy and cult-like nature had other real-world consequences, with many patients likely to have received erroneous blood test results.
"The defendants also represented to investors that Theranos would generate over $100 million in revenues and break even in 2014 and that Theranos expected to generate approximately $1 billion in revenues in 2015 when, in truth, the defendants knew Theranos would generate only negligible or modest revenues in 2014 and 2015", the U.S. Attorney's Office said. Theranos does not have enough cash to keep going under terms of a loan from Fortress Investment Group it secured previous year, according to the letter.
But an investigation by The Wall Street Journal two years ago found that Theranos' technology was inaccurate at best, and that the Palo Alto, Calif. -based company was using routine blood-testing equipment for the vast majority of its tests.
Taylor said investment bank Jefferies "reached out on our behalf to over 80 potential sale counter-parties", but came away with no buyers. Despite raising some $900 million (£696 million) and achieving a $10 billion (£7.7 billion) valuation, its technology never worked.
Ms Holmes sold that vision to a roster of well known investors, including Walgreens, the drugstore group, media mogul Rupert Murdoch, and Oracle co-founder Larry Ellison. The Wall Street Journal has however reported the company's claims that the "unsecured creditors" will be paid the debt amount before the company closes down.
She planted a string of high ranking United States military officials and political powerbrokers on the Theranos board including Henry Kissinger, George Shultz, Donald Trump's now Secretary of Defence, General Jim Mattis and Bill Clinton's former Secretary of Defence, William Perry.
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On a recent podcast he spoke of how she was able to seduce powerful men to keep the charade going.
"She wowed them. I don't necessarily think that it was a sexual thing by any means ..."
An experience that marked her childhood and that would change her life forever, was when an uncle who she loved very much was diagnosed with skin cancer. And according to Carreyrou, astonishingly she is cooking up new business plans.
However the technology was flawed and the company, its CEO Elizabeth Holmes and president Ramesh "Sunny" Balwani were charged with fraud by the US Securities and Exchange Commission.
But in February of the next year, this apparent fairy tale of modern medical technology started to show signs of coming down to Earth.
She and Mr Balwani still face up to 20 years in prison and fines of millions of dollars if convicted of fraud.