Theranos Former President Ramesh ‘Sunny’ Balwani Found Guilty on All 12 Fraud Counts

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SAN JOSE, Calif.—A federal jury convicted Ramesh “Sunny” Balwani, the previous prime lieutenant to Theranos Inc. founder Elizabeth Holmes, on all 12 prices that he helped perpetuate a yearslong fraud scheme at the blood-testing startup.

The verdict is the second conviction in opposition to Theranos management and comes six months after a jury found Ms. Holmes guilty of fraud, securing one other main victory for the U.S. authorities, which introduced the case in opposition to the pair in 2018. It brings to conclusion one in all Silicon Valley’s most notorious startup implosions, which noticed practically $1 billion of investor cash evaporate after revelations that the corporate delivered inaccurate blood-test outcomes to sufferers, together with for life-threatening situations, and Ms. Holmes and Mr. Balwani lied about its proprietary know-how.

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