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Guilty on all 12 charges against former Theranos exec Sunny Balwani

Guilty on all 12 charges against former Theranos exec Sunny Balwani

Enlarge (credit: Justin Sullivan / Staff | Getty Images North America)

After nearly five days of jury deliberations, a unanimous verdict has been reached in the trial of former Theranos president and chief operating officer Ramesh “Sunny” Balwani. Balwani was found guilty of all 12 charges of wire fraud and conspiracy to commit wire fraud.

New York Times reporter Erin Griffith tweeted that the courtroom drew the case’s biggest crowd while the verdict was read. Balwani faces a maximum sentence of up to 20 years in prison and fines of $250,000 per wire fraud and conspiracy count, plus restitution.

In 2018, Balwani was indicted, along with Theranos founder Elizabeth Holmes, for allegedly defrauding investors, doctors, and patients who bought into $9 billion-startup Theranos’ simplified blood-testing technology that proved too good to be true.

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