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In the final hours before a deadline to surrender to federal prison, former Theranos executive Ramesh “Sunny” Balwani has delayed his incarceration on multiple fraud convictions.
A U.S. jury on Thursday convicted former Theranos Inc President Ramesh "Sunny" Balwani of defrauding investors and patients about the blood testing startup that was once valued at $9 billion. The ...
Ramesh "Sunny" Balwani, former president and chief operating officer (COO) of Theranos and ex-boyfriend of founder Elizabeth Holmes, leaves after the opening day of his federal trial for wire ...
The fate of Ramesh "Sunny" Balwani, once a high-flying Silicon Valley executive, is now in the hands of a jury, pushing the infamous biotech startup Theranos' story closer to a finale.
Balwani was found guilty on all counts, [6] and was sentenced to 12 years and 11 months, plus three years of probation and surrendered on April 20, 2023. [ 7 ] [ 8 ] Holmes and Balwani were further ordered to pay $452 million to the victims of the fraud, with responsibility for the payment shared between them. [ 9 ]
On June 15, 2018, following an investigation by the U.S. Attorney's Office for the Northern District of California in San Francisco that lasted more than two years, a federal grand jury indicted Holmes and former Theranos chief operating officer and president, Ramesh "Sunny" Balwani, on nine counts of wire fraud and two counts of conspiracy to commit wire fraud.
Ramesh "Sunny" Balwani, 57, was sentenced to 155 months behind bars for a dozen wire fraud and conspiracy convictions tied to his role in the once high-flying blood-testing venture founded by Holmes.
In 2018, the U.S. Securities and Exchange Commission (SEC) charged Theranos, Holmes, and former Theranos chief operating officer (COO) Ramesh "Sunny" Balwani with raising $700 million from investors through a fraud involving false or exaggerated claims about the accuracy of the company's blood-testing technology; Holmes settled the charges by ...