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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source: https:\/\/www.theverge.com\/2022\/7\/7\/23198848\/sunny-balwani-guilty-theranos-fraud-holmes<\/a> Ramesh Balwani, the former business partner and romantic interest of Elizabeth Holmes, defrauded investors and patients of the blood testing company Theranos, a jury found today.<\/p>\n Balwani, who goes by Sunny, faced 10 counts of wire fraud and two counts of conspiracy to commit wire fraud. He was found guilty of all counts and faces up to 20 years in prison for each count.<\/p>\n Holmes was convicted<\/a> of four counts of fraud against investors in January after a months-long trial. She was found not guilty on charges of defrauding patients. <\/p>\n Balwani joined Theranos in 2009 as president and chief operating officer. He also supervised the company\u2019s labs. Balwani initially met Holmes when she was 18, and they began dating after she\u2019d already started the company. They kept the relationship a secret and split as the company collapsed. <\/p>\n Theranos promised to upend the medical testing industry with a machine that could run dozens of blood tests<\/a> on a single drop of blood. But an expos\u00e9<\/a> in The Wall Street Journal<\/em> in 2015 revealed that the tech couldn\u2019t do what it promised, and the company came under scrutiny by federal regulators. The labs shut down in 2016.<\/p>\n Balwani and Holmes were originally charged with fraud together, but a federal judge separated their trials in 2020 after Holmes alleged Balwani had emotionally and sexually abused her. She testified about those accusations<\/a> during her trial and attempted to shift blame for the problems at Theranos onto him. At Balwani\u2019s trial, his lawyers said that Holmes was in charge of the company. But prosecutors said he also played a significant role in making critical decisions at the company. Along with other evidence, they pointed out a text message<\/a> from Balwani to Holmes \u2014 which read: \u201cI am responsible for everything at Theranos.\u201d<\/p>\n Holmes will be sentenced in September<\/a>, and Balwani will be sentenced in November<\/a>.<\/p>\n<\/div>\n
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