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Kate McKinnon to play Elizabeth Holmes in 'The Dropout'

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American Kate is all set to set to portray in an upcoming series titled 'The Dropout'.

The show will be based on the and ABC News podcast about Holmes. is also on board as an for the series, reported Variety.

The series' title refers to the fact that Holmes dropped out of to found Theranos, a company which invented the Edison machine, a tool that promised to give patients an affordable way to test their blood for 200 diseases at their local drug store with just a finger-prick.

However, the machine did not work as Holmes claimed it would and her false claims allowed her to reap a fortune from investors. She even appeared on the front cover of Fortune magazine. Few of the wealthy investors who fell for Holmes' scheme include and

Holmes' scam went on to be so successful, that the company was at one time valued at nine-billion dollars, making her one of the richest in the world.

In 2018, she was indicted by a federal jury along with the former chief operating officer, on nine counts of wire fraud and two counts of conspiracy to commit wire fraud.

Rebecca Jarvis, who hosted the podcast, will also serve as an for the series, and podcast producers and will also produce the upcoming series.

is also releasing an Alex Gibney documentary about Holmes in March titled 'The Inventor: Out for Blood in Silicon Valley'.

A film version of 'Bad Blood', the book by which chronicles Theranos' demise, is in development. set to star as Holmes, 'Vice' is directing the film and 'The Shape of Water' is writing the script.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, April 11 2019. 14:36 IST