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Home Business

Ex-Theranos president Ramesh Balwani gets 13 years in prison

by Janice Allen
December 8, 2022
in Business
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Ex-Theranos president Ramesh Balwani gets 13 years in prison
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Disgraced Theranos Inc. President and Chief Operating Officer Ramesh “Sunny” Balwani was sentenced today to 13 years behind bars for defrauding investors and patients.

U.S. District Judge Edward Davila delivered the verdict at a federal courthouse in San Jose, California.

Last July, Balwani was convicted of collaborating with Elizabeth Holmes, CEO of Theranos, in a massive fraud scheme involving investors and patients of the blood testing company. The startup falsely claimed that the device they developed could detect diseases and conditions with just a few drops of blood.

Holmes was sentenced to more than 11 years in prison in January for her role in defrauding investors.

In addition to being second in command at Theranos, Balwani was also Holmes’ boyfriend, though she alleged at her trial that Balwani had sexually and verbally abused her.

Related: What Happened to Theranos CEO Elizabeth Holmes? Everything from her net worth to where she is now

Who is Ramesh Sunny Balwali?

Not much is known about Balwani, including how he got the nickname ‘Sunny’.

According to a revelation in the New York Times, Balwani once worked as a sales manager for Microsoft and was president of a start-up called CommerceBid.com during the dot.com boom. Balwani made $40 million on that exit and eventually landed a number two job at Theranos.

He was later arrested and convicted two counts of conspiracy and ten counts of wire fraud for his role in the multimillion dollar Theranos scheme.

Balwani did not speak in defense at his trial or sentencing. He is expected to appeal against his conviction.

Janice Allen
Janice Allen

Janice has been with businesskinda for 5 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider businesskinda team, Janice seeks to understand an audience before creating memorable, persuasive copy.

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