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Former Theranos COO Sunny Balwani Is Guilty Of Federal Fraud

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Former Theranos COO Sunny Balwani Is Guilty Of Federal Fraud

(CTN News) – Theranos investors and patients were defrauded by former business partner and romantic interest Ramesh Balwani, a jury found today.

Sunny Balwani was charged with 10 counts of wire fraud and two counts of conspiracy to commit wire fraud. As a result of his conviction on all counts, he faces up to 20 years in prison.

Sunny Balwani once said he was ‘responsible for everything’

After a months-long trial, Holmes was convicted of four counts of fraud against investors in January. On charges of defrauding patients, she was found not guilty.

Sunny Balwani joined Theranos as president and chief operating officer in 2009. The labs of the company were also under his supervision.

They began dating after Holmes had already started the company when Sunny Balwani was 18. As the company collapsed, they kept their relationship a secret.

It promised to revolutionize the medical testing industry with a machine that could run dozens of blood tests on a single drop of blood.

An exposé in The Wall Street Journal in 2015 revealed the tech couldn’t deliver on its promises, and federal regulators scrutinized the company. The labs shut down in 2016.

In 2020, a federal judge separated Sunny Balwani’s and Holmes’ fraud trials after Holmes claimed Balwani had emotionally and sexually abused her. During her trial, she mentioned those accusations and attempted to blame him for the problems at Theranos.

During Sunny Balwani’s trial, his lawyers claimed Holmes was the company’s CEO. In addition, prosecutors said he made critical decisions at the company.

In addition to other evidence, they pointed out a text message from Balwani to Holmes, which read: “I am responsible for everything at Theranos.”

Sunny Balwani will be sentenced in November, while Holmes will be sentenced in September.

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