[ad_1]
Disgraced Theranos Inc. President and Chief Working Officer Ramesh “Sunny” Balwani was sentenced at present to 13 years behind bars for defrauding traders and sufferers.
U.S. District Decide Edward Davila handed down the sentence in a San Jose, California, federal courthouse.
Final July, Balwani was convicted of collaborating with Theranos CEO Elizabeth Holmes in an enormous fraud scheme involving traders and sufferers of the blood-testing firm. The startup falsely claimed that the system they developed might detect illnesses and situations from just some drops of blood.
Holmes was sentenced in January to over 11 years in jail for her function in duping traders.
Along with being second in command at Theranos, Balwani was Holmes’ boyfriend, though she claimed in her trial that Balwani sexually and verbally abused her.
Who’s Ramesh Sunny Balwali?
Not a lot is thought about Balwani, together with how he bought the nickname “Sunny.”
In response to a New York Occasions expose, Balwani as soon as labored as a gross sales supervisor for Microsoft and was president of a start-up referred to as CommerceBid.com throughout the dot.com increase. Balwani made $40 million on that exit and ultimately landed a job because the quantity two at Theranos.
He was later arrested and convicted of two counts of conspiracy and ten counts of wire fraud for his function within the multi-million-dollar Theranos scheme.
Balwani didn’t communicate in his personal protection throughout his trial or his sentencing. He’s anticipated to enchantment his conviction.
[ad_2]
