Ramesh 'Sunny' Balwani could face more than a decade behind bars after being convicted of fraud and conspiracy.
A former Theranos executive learns Wednesday whether he will be punished as severely as his former lover and business partner for peddling the company's bogus blood-testing technology that duped investors and endangered patients.
While on the witness stand in her trial, Holmes accused Balwani, 57, of manipulating her through years of emotional and sexual abuse. Balwani's attorney has denied the allegations.The two trials had somewhat different outcomes. Unlike Balwani, Holmes was acquitted on several charges of defrauding and conspiring against people who paid for Theranos blood tests that produced misleading results and could have pointed patients toward the wrong treatment.
The Justice Department"has now conceded that both defendants deserve the same sentence, even though Balwani was convicted for far more counts," Levin said. Since Holmes got an 11-year sentence,"it follows logically that he will get the same sentence." He later moved to Silicon Valley, where he first worked as a computer programmer for Microsoft before founding an online startup that he sold for millions of dollars during the dot-com boom of the 1990s.
Before Theranos' downfall, Holmes teamed up with Balwani to raise nearly $1 billion from deep-pocketed investors that included software mogul Larry Ellison and media magnate Rupert Murdoch.
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