SAN JOSE, Calif. (AP) — A jury on Thursday convicted former Theranos government Ramesh “Sunny” Balwani of participating with disgraced Theranos CEO Elizabeth Holmes in an enormous fraud involving the blood-testing corporate that after enthralled Silicon Valley.
The 12 jurors discovered Balwani responsible on all 12 criminal counts of defrauding each Theranos buyers and the sufferers who trusted wildly unreliable blood assessments that can have jeopardized their well being.
Balwani sat expressionless because the verdicts had been learn.
The result places Balwani and Holmes in equivalent scenarios. Holmes used to be convicted on 4 counts of investor fraud and conspiracy previous this yr. All over that trial, Holmes tearfully accused Balwani of sexually emotionally abusing her whilst they had been enthusiasts. An legal professional for Balwani has vehemently denied the ones fees.
Each Holmes, 38, and Balwani, 57, withstand twenty years in jail.
Holmes is scheduled to be sentenced in overdue September. The date of Balwani’s sentencing is anticipated to be set within the coming days.
The twin convictions representing a convincing victory for federal prosecutors, who seized at the Theranos case as a unprecedented alternative to carry bold marketers in command of attractive in technological hyperbole whilst pursuing status and fortune. Within the procedure, they was hoping to deter the observe of constructing daring and unproven guarantees about still-nascent merchandise ― a startup technique referred to as “faux it till you are making it.”
After the verdicts had been learn and the jury used to be pushed aside, Balwani walked over to his two brothers who had been sitting in the back of him for what gave the impression to be a solemn dialogue. The 3 sat quietly, heads bowed.
