Disgraced Theranos COO Ramesh “Sunny” Balwani was sentenced to nearly 13 years in prison on Wednesday for fraud following the blood-testing startup’s implosion. Balwani and his girlfriend Elizabeth Holmes were found guilty of defrauding investors with claims if miracle blood test technology that never worked.
Ramesh “Sunny” Balwani, the ex-boyfriend of Theranos founder Elizabeth Holmes who served as President and COO of her company, has been found guilty of conspiring with Holmes to defraud investors and patients who used the company’s bogus blood testing services.
Biotech corporation Theranos, whose founder and CEO Elizabeth Holmes was convicted of fraud and conspiracy, used the United States government’s H-1B visa program to employ dozens of foreign workers “akin to indentured servitude,” reports reveal.
A judge dismissed nine people from the jury pool in the Elizabeth Holmes fraud trial because they had not received a coronavirus vaccine.
Theranos founder Elizabeth Holmes and Ramesh “Sunny” Balwani, the start-up’s former president, have been indicted on two counts of conspiracy to commit wire fraud and nine counts of wire fraud, the Justice Department announced Friday.