Elizabeth Holmes' ex-boyfriend and Theranos' former COO Ramesh 'Sunny' Balwani was sentenced to 155 months in prison Wednesday after previously being found guilty on 12 charges of fraud.
’ former COO Ramesh “Sunny” Balwani was sentenced to 155 months in prison – a month shy of 13 years – Wednesday after he was previously found guiltyBalwani, who had initially pleaded not guilty to the charges, was accused of defrauding investors and patients by misrepresenting Theranos’ blood-testing product that they claimed could detect diseases with just a bit of blood. He was found guilty of 10 counts of federal wire fraud and two counts of conspiracy to commit wire fraud.
He faced up to 20 years in prison and a fine of $250,000 plus restitution for each of his charges, with prosecutors seeking a minimum of 15 years behind bars,; following his prison term, Balwani must also serve three years probation. Balwani’s trial began in March with prosecutors calling on 24 witnesses and the defense calling only two witnesses before resting on June 9. Meanwhile, prosecutors Jeff Schenk and John Bostic argued that evidence showed Balwani stood by Holmes and influenced her decisions in building the bogus company, according to
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