Therano’s former president Ramesh ‘Sunny’ Balwani found guilty on all 12 fraud points
SAN JOSE, California – A Federal Jury Judges RameshSolfylt ”Balwanithe former top lieutenant of the founder of Theranos Inc. Elizabeth Holmeson all the 12 charges that he helped maintain a years-long fraud scheme at the start of blood tests.
The verdict is the second conviction against Theranos’ management and comes six months after a jury found Holmes guilty of fraud; it secures another big victory for the US government, which brought the case against the couple in 2018. It ends one of Silicon Valleyits most notorious startup implosions, which saw nearly $ 1[ads1] billion of investor money disappear after revelations that the company provided inaccurate blood test results to patients, including for life-threatening conditions, and Ms. Holmes and Mr. Balwani lied about their proprietary technology. .
