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Former Theranos COO Sunny Balwani sentenced to 12 years and 11 months in prison
Ramesh “Sunny” Balwani, Theranos’ former chief operating officer, has been sentenced for his role in defrauding Theranos' former patients and investors.
Former Theranos COO Sunny Balwani found guilty of all charges
Ramesh “Sunny” Balwani, Theranos’ former chief operating officer, has been found guilty of all charges in his criminal trial.
The Elizabeth Holmes Theranos trial will start next summer
After the scandal, the book, the podcasts and the documentary, the Theranos debacle is finally going to court -- in 2020. U.S. District Court Judge Edward Davila set the start date of co-founder Elizabeth Holmes' criminal trial for August 4th of next year, with jury selection kicking off the week before. She's been indicted -- along with Theranos president Ramesh "Sunny" Balwani -- on 11 counts of wire fraud and conspiracy to commit wire fraud. After the SEC announced charges last year Theranos finally announced it would shut down, well after it was exposed in 2016 for promoting "fingerprick" blood test technology that didn't work as promised and it largely wasn't using. In pretrial motions, lawyers representing Holmes targeted communications between regulators and a Wall Street Journal reporter and Bad Blood author John Carreyrou. Bloomberg reports they claimed he "was exerting influence on the regulatory process in a way that appears to have warped the agencies' focus on the company and possibly biased the agencies' findings against it."
