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Blood test scandal company Theranos: Ramesh "Sunny" Balwani convicted as a fraudster

2022-07-07T20:05:48.693Z


The blood tests by the start-up Theranos were supposed to revolutionize the healthcare industry in the USA - but they didn't work at all. A court has now ruled on the guilt of Elizabeth Holmes' business partner.


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Ramesh "Sunny" Balwani in court

Photo: BRITTANY HOSEA-SMALL / REUTERS

A jury in San Jose, California, found former Theranos manager Ramesh "Sunny" Balwani guilty of fraud.

The 12 jury found Balwani guilty on all 12 counts.

According to them, Balwani cheated both Theranos investors and patients with highly unreliable blood tests.

These could have endangered the health of the patients, it said.

In January this year, the founder of the US blood test company Theranos, Elizabeth Holmes, was found guilty of fraud.

She founded Theranos in 2003 when she was just 19 years old.

The company advertised a supposedly revolutionary technology for quick and inexpensive blood tests.

For years, the young entrepreneur was considered the star of California's high-tech center Silicon Valley and was able to win prominent supporters such as ex-Secretary of State Henry Kissinger.

Holmes became a billionaire.

It later became clear that the blood testing machines weren't working at all.

Holmes and Balwani were tried separately.

Holmes accused Balwani during her trial of emotionally and physically abusing her during the time they were linked not only professionally but also personally.

(Read more about Holmes' trial here).

A lawyer for Balwani denied these allegations.

Both Holmes, 38, and Balwani, 57, now face up to 20 years in prison, according to the AP news agency.

The sentence against the two will be announced at a later date.

kko/AP/AFP

Source: spiegel

All business articles on 2022-07-07

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