Theranos: Sunny Balwani sentenced to prison
The court has sentenced Ramesh ‘Sunny’ Balwani, an executive of the failed startup, Theranos to a prison sentence of almost 13 years.
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For his part in Theranos, the court found Balwani guilty of twelve counts of wire fraud as well as the conspiracy to commit wire fraud.
Executives at Theranos said that the product could diagnose diseases with a few droplets of blood from a finger prick. This was not true.
Last month, Holmes was given a prison sentence of over 11 years (135 months).
At the end of a nearly four-hour hearing the court handed Balwani a prison sentence of 155 months . He did not say anything. Like Holmes, his lawyers say he plans to file an appeal.
He was found guilty, unlike Holmes, of cheating people who used blood tests. The court found Holmes guilty of fraud on four counts.
Holmes started Theranos after she drooped out of Stanford University at age 19 and was called “the next Steve Jobs.” After it said it could change how diseases are diagnosed, the…Read More
Source — California Observer
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