Sunny Balwani, a Former Theranos Executive, Was Convicted on 12 Counts of Fraud!
The former Theranos executive Sunny Balwani has been convicted on all 12 fraud charges brought against him for his role at the now-defunct blood-testing company.
The decision is the end of Theranos’s legal troubles, which began almost eight years ago when serious questions were raised about the company’s blood-testing technology. Balwani was once in charge of the Theranos lab and put millions of dollars of his own money into the company. His conviction is also harsher than that of his ex-lover and business partner, Elizabeth Holmes, who was found guilty of only four of the same 11 charges in January.
Holmes was found guilty of scamming investors but not of scamming patients. Balwani, on the other hand, was found guilty of all charges, including those that were specific to patients.
After a 13-week trial in San Jose, California, in which Balwani’s role in the medical tech company that promised to change the world of medicine was shown, the decision was made public on Thursday. Five men and seven women made up the jury. They talked about the case for 32 hours before coming to a decision around noon.
The 57-year-old businessman pleaded not guilty and could now go to prison for up to 20 years. Holmes is free on bail, and his sentencing is set for September 26. Balwani’s sentence will be given on November 15.
Holmes and Balwani, former business and romantic partners, had vowed to upend the medical testing industry with a blood test that could scan for more than 200 potential health problems with just a few drops of blood, a promise that was later discovered to have little basis in reality.