A federal decide has sentenced Ramesh “Sunny” Balwani, 58, to just about 13 years in federal jail for fraud associated to the defunct blood-testing startup Theranos, which promised to carry out greater than 200 medical checks with just some drops of blood regardless of its know-how by no means working correctly.
Balwani, who served as Theranos’ chief working officer, was convicted of all 12 counts of fraud in a unanimous verdict in July. Not like Theranos CEO Elizabeth Holmes, Balwani was convicted of defrauding traders and sufferers. Holmes’ conviction on 4 counts of fraud solely associated to defrauding traders; she was acquitted of counts associated to defrauding sufferers.
Holmes and Balwani, who had been beforehand romantic companions, had been co-conspirators in Theranos’ fraud and had been indicted collectively 4 years in the past. Nonetheless, US District Decide Edward Davila in San Jose, California, separated their instances in 2020.
Learn 5 remaining paragraphs | Feedback