Ramesh Balwani has been sentenced to 155 months, or just under 13 years, in prison, according to The New York Times. Like his former business partner, Theranos founder Elizabeth Holmes, he’s due another three years of supervised release after he gets out. Balwani will have to surrender to custody on March 15th.
In July, Balwani, also known as Sunny, was convicted on 10 counts of wire fraud and two counts of conspiracy to commit wire fraud for his actions while he was president and COO of Theranos. Unlike Holmes, who was found guilty of only defrauding investors, Balwani was found guilty of deceiving both investors and patients.
Part of Balwani’s role at Theranos was overseeing the labs at the blood testing company. Theranos once claimed that it could test a few drops of a patient’s blood for a litany of diseases until a 2015 Wall Street Journal exposé revealed the tech didn’t live up to its promises.
Read Full Article