Closing arguments starting at the trial of former Theranos President Sunny Balwani

The jury on Tuesday was scheduled to hear closing arguments at the trial of Ramesh “Sunny” Balwani, a former Theranos executive charged with teaming up with his secret lover. Former CEO Elizabeth HolmesPerform a large-scale scam.

The three months of testimony and evidence reflect the proceedings against Holmes. Another trial last year..Holmes was convicted 4 Counts of Fraud Investors She was acquitted with four counts, claiming she had deceived a patient who had a Theranos blood test.

Holmes, 38, is free on bail of $ 500,000, but is sentenced to up to 20 years in prison and a $ 250,000 fine for each count. However, according to federal judgment guidelines, sentences may be executed simultaneously rather than consecutively. If convicted, Balwani faces the same punishment.Holmes is waiting Sentence in September..

Balwani’s lawyer, 57, described him as a well-meaning investor and entrepreneur, became Chief Operating Officer of Theranos in 2010, and was involved in fraud by Holmes.She later abandoned him Her lover and business partner When Theranos began to solve in 2016.

The widow of a former Chief Scientist of Theranos says after being convicted of Elizabeth Holmes


Before that crack, Barwani invested $ 15 million in his own money to help strengthen Theranos when Holmes put him as her supreme lieutenant while Holmes was secretly cohabiting. Did. Balwani’s investment in Theranos was ultimately worth about $ 500 million in paper. This is a bet that his lawyer has never sold to a jury. When the company collapsed, it became worthless.

Prosecutors described Barwani as a ruthless accomplice who helped Holmes deceive investors. At some point, they were Balwani, Those who do not have a medical degreeOversaw the Theranos Lab, which concealed a significant flaw in the company’s blood testing technology that could endanger the patient’s life.

“Mr. Holmes and Mr. Balwani were virtually all partners,” prosecutor Robert Reach said early in the trial. “Defendants and Holmes knew of the rosy falsehood they were telling investors to be contrary to reality within Theranos.”

Holmes’ bold claim to Theranos made her Silicon Valley star — He is also rich and has $ 4.5 billion in paper wealth based on the company’s success in raising funds and mediating commerce based on her promise to revolutionize health care. Holmes argued that the company has developed a technology that can scan over 200 potential health problems by piercing a finger and taking a few drops of blood.

Impact of Elizabeth Holmes Conviction on Silicon Valley


Barwani began dating Holmes around the same time he started Theranos, and then began giving her business advice. Their relationship was the focus of the Hulu TV series “Dropout” on the rise and fall of Holmes, released shortly before the trial began, complicating efforts to select a fair jury.

During her trial, Holmes took the position of a witness and tearfully accused Balwani of being the dominant figure in her life that subdued her at some point. Emotional and sexual abuse.. One of Balwani’s other lawyers violently denied these allegations during Holmes’ trial. Balwani’s lawyer is asking the jury in the current trial to destroy anything that he may have read or heard about Holmes’ allegations before.

There was speculation that Holmes might return to court to testify to Balwani during the trial, but that never happened. Unlike Holmes, Balwani objected to testifying in his own defense during his trial. Closing arguments starting at the trial of former Theranos President Sunny Balwani

Back to top button