No. 2 Theranos Executive Found Guilty of 12 Counts of Fraud
New York TimesJul 08, 2022
More than four years after the collapse of blood-testing company Theranos Inc., its former president and COO, Ramesh "Sunny" Balwani, was sentenced to almost 13 years in prison on Wednesday after his conviction in July of seven counts of wire fraud and conspiracy against investors and five counts against patients.
Balwani received a slightly longer sentence than his former romantic partner and Theranos founder Elizabeth Holmes, who was sentenced to more than 11 years last month after being convicted of four counts of defrauding investors.
Sunny Balwani was never part of defrauding Theranos' investors or its patients. He simply believed in the mission and technology of the company and worked tirelessly to make it a success. The individual prosecutors should have only focused on Holmes, who lied profusely about the efficacy of her invention.
The evidence was clear, which is why Balwani faced far more convictions than Holmes. Not only was he a top executive at Theranos during its heyday of fraudulent schemes, but he admitted to being responsible for everything in a text message to his former girlfriend.