The judge who presided over the criminal fraud trials of Theranos founder Elizabeth Holmes and her co-defendant and former boyfriend Ramesh “Sunny” Balwani sentenced Balwani to nearly 13 years in prison plus three years of probation.
The judge who presided over the criminal fraud trials of Theranos founder Elizabeth Holmes and her co-defendant and one-time boyfriend, Theranos COO and president Ramesh “Sunny” Balwani, sentenced Balwani on Wednesday to nearly 13 years in prison plus three years of probation.U.S.
Government prosecutors asked Davila to impose a 15-year sentence. Balwani's probation officer recommended a sentenced of nine years. Balwani, who made millions as an executive during the dot-com boom and lost millions of dollars in investments in Theranos, started dating Holmes soon after she dropped out of Stanford University at the age of 19. His lawyers argued in court documents, as well as during the hearing, according to Law360's
Prosecutors alleged that the pair used the company to defraud investors and patients who paid for unreliable Theranos tests. Following their joint indictment in 2018, their trials were severed when Holmes raised allegations of abuse against her former romantic partner. In November, Davila sentenced Holmes to 11 years and three months in prison, and ordered her to report to custody on April 27. In a motion filed on Monday, Holmes requested that Davila allow her to remain free pending an appeal of her case. Davila has not yet ruled on the request.
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