Sunny Balwani
Former president and COO of Theranos / From Wikipedia, the free encyclopedia
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Ramesh "Sunny" Balwani (born June 13, 1965)[1] is a businessman, former president and chief operating officer of Theranos, which was a privately held health technology company founded by his then-girlfriend Elizabeth Holmes. He and Holmes fraudulently represented that they had devised a revolutionary blood test that required only small amounts of blood, such as from a fingerstick. Both Balwani and Holmes were convicted of fraud.[3] The consequences of the fraud led to the collapse of Theranos and the loss of billions of dollars to investors.[4]
Ramesh Balwani | |
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Born | (1965-06-13) June 13, 1965 (age 58)[1] |
Other names | Sunny Balwani |
Education | University of Texas, Austin (BS) University of California, Berkeley (MBA) Stanford University |
Known for |
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Criminal status | Incarcerated April 20, 2023 |
Conviction(s) | (2) counts of conspiring with Holmes, (6) counts of defrauding investors and (4) counts of patient fraud (2022) |
Criminal penalty | 12 years and 11 months |
Partner(s) | Elizabeth Holmes (2003–2016) |
Imprisoned at | Terminal Island FCI |
Starting in 2015, Theranos came under criticism in the media due to its questionable claims and practices. The company was eventually liquidated. Balwani and Holmes were criminally charged by federal authorities for operating the business as a multi-million-dollar scheme to defraud investors and patients. Holmes was found guilty and sentenced to 11 years and 3 months in prison.[5] Balwani was found guilty on all counts.[6] He was sentenced to 12 years and 11 months, plus three years of probation and surrendered on April 20, 2023.[7][8] Holmes and Balwani were further ordered to pay $452 million to the victims of the fraud, with responsibility for the payment shared between them.[9]