Former Theranos exec Ramesh Balwani convicted of fraud

Jury finds him guilty on all 12 felony counts of defrauding both Theranos investors and patients



File. Ramesh 'Sunny' Balwani, former president and chief operating officer (COO) of Theranos and ex-boyfriend of founder Elizabeth Holmes. Photo: Reuters
File. Ramesh "Sunny" Balwani, former president and chief operating officer (COO) of Theranos and ex-boyfriend of founder Elizabeth Holmes. Photo: Reuters

By AP

Published: Thu 7 Jul 2022, 11:17 PM

Ramesh “Sunny” Balwani, Elizabeth Holmes’ former partner, was convicted on 12 fraud counts in the Theranos blood-testing fraud case.

A jury on Thursday convicted former Theranos executive Ramesh “Sunny” Balwani of collaborating with disgraced Theranos CEO Elizabeth Holmes in a massive fraud involving the blood-testing company that once enthralled Silicon Valley.

The 12 jurors found Balwani guilty on all 12 felony counts of defrauding both Theranos investors and the patients who relied on wildly unreliable blood tests that could have jeopardized their health.

Balwani sat expressionless as the verdicts were read.

The outcome puts Balwani and Holmes in similar situations. Holmes was convicted on four counts of investor fraud and conspiracy earlier this year. During that trial, Holmes tearfully accused Balwani of sexually emotionally abusing her while they were lovers. Both Holmes, 38, and Balwani, 57, face up to 20 years in prison.


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