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A jury on Thursday convicted former Theranos executive Ramesh "Sunny" Balwani of collaborating with disgraced Theranos CEO Elizabeth Holmes in a massive fraud involving the blood-testing . 'Can't leave like this,' he went on, warning Holmes that he 'didn't like' the 'PR direction' she was heading in. After meeting when Holmes was in China for Stanford's Mandarin program in 2002 . Where Is 'Murdaugh Murders' Morgan Doughty Now? In 2015, the company came under scrutiny. Jurors were unable to reach a verdict on the remaining three, which prosecutors may decide to retry at a later date. Both pleaded not guilty and were released on bail. Holmes was then 19 and attending Stanford University's Mandarin program, which was held over the. US District Judge Edward Davila in San Jose, California, imposed the sentence onBalwani, who wasconvictedby a jury on two counts of conspiracy and 10 counts of fraud in July. On Dec. 7, Federal District Judge Edward J. Davila sentenced Sunny to nearly 13 years in prison, according to The Washington Post. Balwani was previously married to a Japanese artist, but according to Carreyrou, began dating and living with the Theranos founder in 2005. They discussed the result he would get and how he wanted to write 'something negative'. He was a 37-year-old South. By Kate Storey and Abigail Covington. Balwani has been charged with nine counts of wire fraud and two counts of conspiracy to commit wire fraud charges his attorney, Jeffrey Coopersmith, has described as "odd," given that Balwani. David Paul MorrisGetty Images After working at companies like Microsoft and Lotus, Sunny made his. Elizabeth did not testify at his trial, per The New York Post. , updated Sunny would often blow off steam or vent through text, Holmes said. Ex-Theranos President Sunny Balwani Sentenced. He bought a condo in Palo Alto, and in 2005 Holmes moved in with him. Elizabeth Holmes was found guilty on four out of seven counts of criminal fraud against investors, and was sentenced to federal prison for 11 years and three months. Balwani, 57, was convicted in July on 12 counts of fraud and conspiracy after persuading investors and patients to trust the company's faulty blood testing devices. Ramesh "Sunny" Balwani is the former COO of Theranos, as well as the former lover of Theranos CEO and founder Elizabeth Holmes. Both Holmes and Balwani were indicted on wire fraud charges in . Sunny's trial was being held in the same courtroom where Elizabeth was convicted earlier in January, and he faced the same charges. Feb. 17, 2023 1:19 PM PT. After one incident in which Balwani allegedly forced her to have sex, Holmes wrote in a document recorded on her iPhone: Dont enjoy literally anything about it or who I am if I did it. Elizabeth Holmes and Ramesh "Sunny" Balwani went to elaborate lengths to keep their 12-year romance a secret while running Theranoslying to investors, most employees, and press to shield the. We will do this togetherand I will be by yourself [sic] until then. I was trying to be supportive., Downey asked Holmes if Balwani criticized employees at Theranos as being incompetent.. The final guideline sentence was 155 months, plus three years of probation. The texts between Holmes and her ex show how - before she reported to authorities that Balwani abused her into committing fraud - she considered him her 'king', her 'tiger' and the man she would build a future with. Prosecutors. In another, they worried about a Wall Street Journal reporter visiting their lab to try out Theranos blood test technology. Earlier in her testimony, Holmes told the jury that being raped while a student at Stanford University pushed her to drop out of school and throw herself into building the company. One former employee says, also on the podcast, that Balwani earned the nickname "the enforcer" due to his intimidating management style. Sunny was convicted of 12 fraud-related charges back in July. 2023 CNBC LLC. We can never forget it tiger for our kids never forget who we are' - to panicked discussions in 2015 about internal staff complaints, FDA clearances and the 'challenges' ahead. Elizabeth focused on big-picture vision while it was Balwani's job to manage the employees and business partners. So so much. Balwani was romantically linked to Theranos founder Elizabeth Holmes, who later accused Balwani of sexual and emotional abuse. He, like Holmes, is out on bail and expected to be sentenced in November 2022. Jan 7, 2022, 6:25 PM UTC. Sunny Balwani (Naveen Andrews) and Elizabeth Holmes (Amanda Seyfried) in Hulu's 'The Dropout.' Beth Dubber/Hulu Throughout history, there have been many heterosexuals who have sullied the good . "It was interest-free. Holmes was then 19 and attending Stanford Universitys Mandarin program, which was held over the summer before the start of the school year. He has pleaded not guilty to all 12 counts. In media coverage, Holmes was portrayed as unattached. Texts between the two were released during the trial, which included Sunny saying things like Missing u in every breath and in every cell, per Bloomberg, with Elizabeth replying ditto.. Their trials were severed in 2021. Her book, White House By the Sea, about the Kennedys in Hyannis Port, is out summer 2023. Closing arguments in the trial are expected to begin Dec. 16. Meanwhile, Balwani received nearly 13 years in prison, despite facing the same 12 counts as his ex. Women's Health may earn commission from the links on this page, but we only feature products we believe in. Everything To Know About 'Daisy Jones & The Six'. Jury. Jul 7, 2022, 7:01 PM UTC. In 1999, he became president of the startup CommerceBid.com. Sunny was also convicted of defrauding patients who used the technology, which was available for a short period at some drugstores. We'll get them'. Did he have any qualifications in the lab testing business? the attorney asked. But text messages revealed during the prosecution contradicted her narrative. 2023 NYP Holdings, Inc. All Rights Reserved, Theranos fraudster Elizabeth Holmes gives birth to 2nd child as 11-year prison sentence looms, Disgraced Theranos founder Elizabeth Holmes responds to claim she tried to flee to Mexico, Elizabeth Holmes tried to flee to Mexico after conviction, prosecutors say, Elizabeth Holmes living in $13,000-per-month estate, showing no remorse: feds, told the jury that being raped while a student at Stanford University, Holmes nearly 20 years younger than Balwani. Heres What To Know. The former CEO, who faces up to 20 years in prison if convicted, blamed Ramesh Sunny Balwani for much of the deception that occurred at Theranos, even though she acknowledged that she was the ultimate decision maker. Elizabeth Holmes' play to delay her sentencing worked like a charm, as the Theranos founder is getting an evidentiary hearing today rather than the previously-scheduled sentencing.Her co-conspirator, Ramesh "Sunny" Balwani, won't get the same opportunity, however. U.S. District Judge Edward Davila, who presided over both trials, sentenced Holmes to more than 11 years in prison, despite her lawyers' request for a maximum sentence of 18 months of house arrest. Theranos COO Ramesh "Sunny" Balwani was sentenced in California federal court on Wednesday after his conviction on fraud charges in the wake of the blood-testing startup's implosion. The amount Holmes will need to pay back to investors will be determined at a later date, NBC's Scott Budman tweeted from the courtroom.. Holmes spoke at the sentencing, stating, "I regret my failings with every cell of my body." Elizabeth Holmes (through tears): "I am devastated by my failings. In the texts, he complained to her: 'I worked for 6 years day and night to help you. 1. In other, previous exchanges, before the romance soured, Balwani complained about a negative internal review that was written anonymously by an employee. Holmes was convicted in January on four counts of fraud and conspiracy but acquitted of defrauding patients. Balwani was 37. Sunny was, replied Holmes, who has spent seven days testifyingin her own defense, denyingthat she swindled patientsand investors out of millions while knowingly producing a faulty testing device toenrich herself. High 81F. Over the course of her trial, Holmes accused Balwani of emotionally and sexually abusing her over the course of their personal and professional relationships. At Abercrombie Is On Sale RN, Shop Amazon's Gardening Sale Before Spring. The jurors in Ramesh "Sunny" Balwani's criminal fraud trial reached a verdict after five days of deliberation. 24/7 coverage of breaking news and live events. The company was bought within a year for $225 million. Holmes received her sentence from Davila at the same courthouse on Nov. 18. However, this figure is likely to drop if he is convicted. Ramesh "Sunny" Balwani, former president and chief operating officer (COO) of Theranos and ex-boyfriend of founder Elizabeth Holmes, arrives during jury deliberations at his federal trial for wire . Your Privacy Choices: Opt Out of Sale/Targeted Ads. They developed a friendship, which later turned into a romantic relationship and then a dysfunctional partnership with Balwani investing some $12-14 million into Holmes company before leaving in 2016. Balwani left the company in 2016 after Holmes brought in outside advisers and lab directors. In a court filing, the lawyers noted Balwani's financial losses on Theranos and contrasted Balwani's low public profile with Holmes, who drew "fame and media attention.". By 2009, Holmes had burned through most of the companys early investor capital and needed a loan to reach the next stage of fundraising. On July 7, 2022, Balwani was found guilty of all 12 counts of defrauding both investors in Theranos and patients who received blood tests using Theranos' equipment, as reported by The New York Times - 10 counts of wire fraud and two counts of conspiracy to commit wire fraud. A federal judge on Monday, Nov. 7, granted a three-week delay in the sentencing of Balwani to give probation officers more time to recommend his punishment for engineering a . Sign up for free newsletters and get more CNBC delivered to your inbox. Former Theranos president Ramesh "Sunny" Balwani, who was indicted Friday on two counts of conspiracy to commit wire fraud and nine counts of wire fraud, is fighting back with a curious legal . Sunny Balwani, the former Theranos executive and ex-romantic partner of Elizabeth Holmes, has been sentenced to nearly 13 years in prison over his role in the now-defunct blood testing firm.. Hurts so much. Balwani was born in Pakistan to a Sindhi Hindu family who emigrated to the United States. Since Sunny has . Elizabeth Holmes and Ramesh 'Sunny' Balwani had a 12-year relationship, and when Holmes took the stand for a fourth day in the United States on Monday, she testified that Balwani inflicted sexual . The Dropout's Sunny Balwani's criminal trial is underway in San Jose, California, and texts between him and Elizabeth Holmes are set to play a key role in the prosecution case.