Ex-Theranos executive Sunny Balwani sentenced to nearly 13 years in prison for fraud

Balwani must surrender by March 15, Judge Edward Davila said Wednesday after announcing the sentence.

Theranos, which promised that its technology could quickly test for a range health conditions with just a pin-prick of blood, raised hundreds of millions of dollars in investment and attracted high-profile board members before collapsing after a series of investigative reporting that cast doubt on the company's viability.

“Mr. Balwani knew that Theranos was not generating, and would not generate, any meaningful revenue by being honest with people,” U.S. Attorney Jeff Schenk said. “So he chose a different path.”“I am responsible for everything at Theranos,” Balwani wrote in a 2015 text message to Holmes. “All have been my decisions too.”“He believed, and had every reason to believe, in the world-class scientific team at Theranos and the technology they developed,” attorney Jeffrey Coopersmith said.

Holmes and Balwani were also romantic partners for much of the company's history, something the pair tried to keep secret from employees. As she mounted her defense, Holmes attempted to portray herself as a victim of Balwani's abuse. Balwani has denied those claims.

Pretty fucked he somehow pulled more jail time than the sociopath ringleader Elizabeth Holmes…

Good jail all the corporate crooks

I wish white collars like these would get tossed into general population in maximum security facilities to make a point that no one is above the law.

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Theranos Ex-President Sunny Balwani Sentenced to Almost 13 Years in PrisonBreaking: Former Theranos President Ramesh “Sunny” Balwani was sentenced to almost 13 years in prison for defrauding investors and patients at the blood-testing startup White female tears for the W, once again Well deserved, now they can direct their gaze towards Sam Bankman-Fried.
Source: WSJ - 🏆 98. / 63 Read more »

Former Theranos executive Sunny Balwani to be sentenced for his role in blood-test company's fraudU.S. prosecutors have recommended that Ramesh 'Sunny' Balwani, the former business partner of Theranos founder Elizabeth Holmes, receive at least 15 years in prison after he was convicted in July on 12 counts of fraud. Can we loosen the tongues of even a few people who hold the evidence we need to defeat the entire United States Government in a single day? If so millions of innocent lives may be saved. You need to report anonymously for your own safety. And make sure not to lose your own lives. He, it seems, did not get the pretty pregnant white lady discount Lock Him Up
Source: NBCNews - 🏆 10. / 86 Read more »