Ramesh “Sunny” Balwani, Theranos’ former chief working officer, has been discovered responsible of all costs in his felony trial. Balwani, whose trial started in March, was charged with ten counts of wire fraud and two counts of conspiracy to commit wire fraud. He might withstand 20 years in jail for defrauding buyers and Theranos sufferers.
The verdict comes almost six months after Elizabeth Holmes was of defrauding Theranos buyers. She additionally faces as much as 20 years in jail, however hasn’t but been sentenced. During her trial, Holmes that Balwani had been controlling and abusive throughout their relationship. Balwani’s attorneys denied the allegations.
Unlike Holmes, Balwani didn’t take the stand throughout his three-month trial. His attorneys that “he did not control Theranos” and that Holmes was in the end answerable for operating the corporate. Prosecutors he labored hand-in-hand with Holmes to mislead buyers, and that he was the chief accountable for faulty monetary projections claiming the startup would herald $1 billion in income by 2015.
Balwani’s trial didn’t appeal to the identical stage of media consideration as Holmes’, however his relationship with Holmes performed a significant function within the widespread fascination surrounding Theranos. Balwani joined Theranos as COO in 2009 and oversaw a lot of the day-to-day operations of the corporate’s lab. The two executives hid their longtime romantic relationship from different Theranos staff, in addition to the corporate’s buyers and board members. More not too long ago, their relationship was a significant focus of , a Hulu miniseries in regards to the rise and downfall of Holmes and Theranos.
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