Balwani

Disgraced Theranos co-founder Elizabeth Holmes’ prison sentence has been reduced by two years, according to the Bureau of Prisons records. Holmes was sentenced to 11 years and three months in prison for defrauding investors by claiming her blood-testing company provided quick and reliable results but she was found to have lied about the reliability of those tests.Tour the Museum of Failure’s Best Tech TrashHolmes surrendered to the Bureau of Prisons in California on May 30 to serve out her sentence at a minimum-security…

Illustration: Jody Serrano / Gizmodo / Getty ImagesFormer Theranos CEO Elizabeth Holmes, who was estimated to have a personal wealth of $4.5 billion in the heyday of her failed fraud of a blood testing company, can’t afford to pay the victims she bilked $250 per month in restitution, her attorneys said this week.NPR Is Going Dark on Twitter | Future TechThe Justice Department said in a court filing it wanted Holmes to pay the monthly $250, or at least 10% of her income, to victims of Theranosafter she gets out of prison.…

SAN JOSE, Calif.—Theranos Inc.’s former No. 2 executive, Ramesh “Sunny” Balwani, was sentenced to nearly 13 years in prison for his involvement in an elaborate fraud scheme at the blood-testing company, marking the capstone of a yearslong saga that became synonymous with the worst of Silicon Valley culture. Mr. Balwani’s sentencing comes more than four years after the collapse of Theranos, which promised to revolutionize healthcare but peddled faulty technology to patients and investors,…

Ramesh ‘Sunny’ Balwani, an ex-Theranos exec and former number two at the company walked into court Dec. 7 for his sentencing. He had been convicted of 12 counts of fraud and conspiracy earlier this year.Photo: Jeff Chiu (AP)Despite his rather chipper name, there’s not a lot that ex-startup executive Ramesh “Sunny” Balwani can feel happy about during his long Wednesday spent in court. Afederal judge sentenced Theranos’ other big executive to 155 months, or a little less than 13 years in prison. It’s slightly more than…

Ramesh Balwani has been sentenced to 155 months, or just under 13 years, in prison, according to The New York Times. Like his former business partner, Theranos founder Elizabeth Holmes, he’s due another three years of supervised release after he gets out. Balwani will have to surrender to custody on March 15th.In July, Balwani, also known as Sunny, was convicted on 10 counts of wire fraud and two counts of conspiracy to commit wire fraud for his actions while he was president and COO of Theranos. Unlike Holmes, who was…

Ramesh “Sunny” Balwani, Theranos’ former chief operating officer, has been sentenced to nearly 13 years in prison. Balwani was found of all charges in a trial earlier this year that charged him with defrauding the blood testing startup’s patients and investors. Of note, his sentence is slightly longer than the 11-year and three month sentence given to Elizabeth Holmes, the former CEO of Theranos. Ahead of his sentencing, Balwani’s legal team had asked for probation or house arrest, The Wall Street Journal . A probation…

Theranos Inc.’s former No. 2 executive could face an unusual white-collar criminal punishment: the possibility of being sentenced to a longer prison term than his boss, who was at the center of the fraud at her company, some criminal defense attorneys said. Ramesh “Sunny” Balwani faces sentencing in federal court Wednesday after being convicted of 12 counts of wire fraud and conspiracy. He denied all the charges, and his lawyers are asking for probation. Theranos Inc.’s former No. 2…

Elizabeth Holmes—the founder of blood testing startup Theranos and the poster child for misleading investors, media, and innocent people looking for medical care through a web of deceit—wants a do-over. She is requesting a new trial, according to a document filed Tuesday in the Southern District Court of California.The motion for a new trial, authored by Holmes’ attorneys, hinges on “newly discovered evidence,” specifically: the alleged testimony regrets of Adam Rosendorff. Rosendorff was a lab director at Theranos and…

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 impassively as the verdicts were read in a San Jose, California, court, blinking…

SAN JOSE, Calif. — In the latest chapter of the Theranos saga, Ramesh "Sunny" Balwani, the company's former chief operating officer and ex-boyfriend of founder Elizabeth Holmes, was found guilty on all 12 criminal fraud charges.Balwani had no reaction as the verdict was read at the U.S. District Court in San Jose, California, and stared straight ahead at Judge Edward Davila. Balwani's family members could be seen consoling him, and his two brothers were by his side.The jury found Balwani guilty on patient counts as well,…