Sunny Balwani trial update: Former Theranos president found guilty on all counts in fraud case

Former Theranos CEO Elizabeth Holmes retuned to the stand Monday revealing a new layer of her defense: she was raped.

During that trial, Holmes tearfully accused Balwani of sexually emotionally abusing her while they were lovers. An attorney for Balwani has vehemently denied those charges.Holmes is scheduled to be sentenced in late September. The date of Balwani's sentencing is expected to be set in the coming days.

The dual convictions representing a resounding victory for federal prosecutors, who seized on the Theranos case as a rare opportunity to hold ambitious entrepreneurs accountable for engaging in technological hyperbole while pursuing fame and fortune. In the process, they hoped to discourage the practice of making bold and unproven promises about still-nascent products -- a startup strategy known as"fake it until you make it.

After the verdicts were read and the jury was dismissed, Balwani walked over to his two brothers who were sitting behind him for what appeared to be a solemn discussion. The three sat quietly, heads bowed.

Source: Law Daily Report (lawdailyreport.net)

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Former Theranos Executive Sunny Balwani Convicted of FraudA 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 company that once enthralled Silicon Valley. Lost $15M of his own money & probably will die in prison. Not good.
Source: nbcsandiego - 🏆 524. / 51 Read more »

Former Theranos COO Sunny Balwani Found Guilty on 12 Counts in FraudElizabeth Holmes’ ex-boyfriend and Theranos’ former COO Sunny Balwani has been convicted of fraud. GehringTed
Source: RollingStone - 🏆 483. / 51 Read more »

Former Theranos executive Sunny Balwani convicted in criminal fraud caseBREAKING: Former Theranos president Ramesh “Sunny” Balwani found guilty of defrauding investors and patients in connection with his blood-testing startup. About time The point is just about every Indian that calls me wants to steal..
Source: ABC - 🏆 471. / 51 Read more »

Theranos Former President Ramesh ‘Sunny’ Balwani Found Guilty on All 12 Fraud CountsA federal jury convicted Ramesh ‘Sunny’ Balwani, the former president of Theranos and deputy to founder Elizabeth Holmes, on all 12 criminal charges that he helped conduct a yearslong fraud scheme
Source: WSJhealth - 🏆 413. / 53 Read more »

Sunny Balwani trial update: Former Theranos President found guilty on all counts in fraud caseA verdict has been reached in the trial of former Theranos President Sunny Balwani.
Source: ABC7NY - 🏆 592. / 51 Read more »