On Dec. 7, Federal District Judge Edward J. Davila sentenced Sunny to nearly 13 years in prison, according to The Washington Post. U.S. urges 15-year sentence for ex-Theranos president Balwani .css-gk9meg{display:block;font-family:Lausanne,Arial,sans-serif;font-weight:normal;margin-bottom:0;margin-top:0;padding-top:0.25rem;-webkit-text-decoration:none;text-decoration:none;}@media (any-hover: hover){.css-gk9meg:hover{color:link-hover;}}@media(max-width: 48rem){.css-gk9meg{font-size:1.125rem;line-height:1.15;margin-bottom:0.25rem;}}@media(min-width: 40.625rem){.css-gk9meg{font-size:1rem;line-height:1.2;margin-bottom:0.625rem;}}@media(min-width: 64rem){.css-gk9meg{font-size:1.25rem;line-height:1.2;}}@media(min-width: 73.75rem){.css-gk9meg{font-size:1.25rem;line-height:1.2;}}So, Which Band Inspired 'Daisy Jones & The Six'? A US judge on Wednesday sentenced former Theranos President Ramesh SunnyBalwanito 12 years and 11 months in prison on charges of defrauding investors and patients of the blood testing startup led by Elizabeth Holmes, a spokesperson for the US attorneys office confirmed. Butwho exactly is Sunny Balwani and where is he now? His nearly 13-year ordered term is even longer than what Elizabeth Holmes received. The deceit resulted in Balwani's conviction on 12 counts of fraud and conspiracy. Who Is Sunny Balwani? All About Elizabeth Holmes's Ex-Boyfriend - Peoplemag Ramesh Sunny Balwani first met future Theranos founder Elizabeth Holmes in Beijing in 2002. The company was bought within a year for $225 million. 64, was accused of shunning him. Both Holmes and Balwani seemed to be complicit in misleading investors and the public about Theranos's blood-testing capabilities. SAN JOSE, Calif. (AP) Former Theranos executive Ramesh "Sunny" Balwani returned to federal court Friday in a last-ditch attempt to stay out of prison while appealing a jury's verdict. The pair hid their romantic relationship and the fact that they lived together from investors. She met Evans after her 2016 break-up with her former lover and business partner, Ramesh "Sunny" Balwani, who was convicted on 12 counts of fraud and conspiracy in a separate trial. Where is Sunny Balwani, subject of Hulu's 'The Dropout,' now? Both Holmes and Balwani were indicted on wire fraud charges in . What Is Theranos' Elizabeth Holmes' Net Worth? The places I would go outside work.. 24/7 coverage of breaking news and live events. In 2009, Sunny became the president and COO of Theranos. Balwani stepped forward with a substantial loan that kept the company afloat. | Michael Liedtke/AP Photo "It was interest-free. He faces the same fate as Elizabeth Holmes. Ramesh "Sunny" Balwani was sentenced on Wednesday, December 7, 2022 to 155 months (12 years, 11 months) in federal prison for fraud that risked patient health by misrepresenting the accuracy of Theranos blood analysis technology and that defrauded Theranos investors of millions of dollars. 00:29 GMT 04 Jan 2022 ", They argued that even if the judge applied the same analysis he did in the Holmes case -- a calculation that yielded a term of 135 months -- a longer term is warranted for Balwani because he was convicted of all 12 counts of the same indictment brought against Holmes, including "additional substantive fraud counts involving patients. The Dropout's Naveen Andrews on Theranos and Sunny Balwani - Vulture But how did it get to that point? He is being tried separately next year. Balwani is nearly 20 years older than Holmes, who testified that he managed the lab and financial side of the business. We can never forget it tiger for our kids never forget who we are' - to panicked discussions in 2015 about internal staff complaints, FDA clearances and the 'challenges' ahead. Elizabeth Holmes' No. 2 and ex-boyfriend Ramesh "Sunny" Balwani is In a sentencing . Holmes is now married to hotel heir Billy Evans and the pair have a baby son. Data is a real-time snapshot *Data is delayed at least 15 minutes. 'CC'd you on terrible negative reviewfrom someone from Newark lab probably lugs lab. But Balwani, his lawyers argued, "is not the same as Elizabeth Holmes: he actually invested millions of dollars of his own money; he never sought fame or recognition; and he has a long history of quietly giving to those less fortunate (dating to well before his time at Theranos) without seeking recognition or benefit. David Paul Morris | Bloomberg | Getty Images, sentenced to more than 11 years in prison. Balwani was convicted of 12 counts of fraud and conspiracy in July. Ramesh "Sunny" Balwani, the former lover and business partner of Theranos CEO Elizabeth Holmes, arrives at federal court in San Jose, Calif., Wednesday, Dec. 7, 2022. "I am responsible for everything at Theranos," Balwani said in a message to Holmes. Ramesh "Sunny" Balwani (born c. 1965) is an American convicted fraudster, businessman and former president and chief operating officer of Theranos, which was a privately held health technology company founded by his then-girlfriend Elizabeth Holmes.He was the second most important figure in the collapse of Theranos and its fraudulent claims to investors, that they had devised a revolutionary . So, Which Band Inspired 'Daisy Jones & The Six'? The final guideline sentence was 155 months, plus three years of probation. Sign up for free newsletters and get more CNBC delivered to your inbox. Balwani leaves the courthouse in January. Everything to Know About Sunny Balwani. And, the Securities and Exchange Commission filed four claims against him for violating the U.S. Securities Act. When he walked out the door, the company was extremely valuable," Walsh said in Balwani's defense. During her trial, Elizabeth accused Sunny of emotional and physical abuse, which he has since denied. Elizabeth focused on big-picture vision while it was Balwani's job to manage the employees and business partners. His decision on whether Balwani can remain free on bail while he appeals his conviction, however, is likely to come soon. Former Theranos COO Ramesh "Sunny" Balwani was convicted on fraud-related charges in federal court last week. SAN JOSE, Calif. -- Former Theranos executive Ramesh "Sunny" Balwani returned to federal court Friday in a last-ditch attempt to stay out of prison while appealing a jury's verdict convicting him of orchestrating a blood-testing hoax with his former boss and lover, Elizabeth Holmes. She spent two years as Hearst Digital Media's News Director, managing an international shared news desk. In the same year, Holmes was sued for fraud by the SEC alongside former company president Sunny Balwani, who was also her ex-boyfriend. I was trying to be supportive., Downey asked Holmes if Balwani criticized employees at Theranos as being incompetent.. But after Anthony Ciccone's death, TOM . In the last moments of her testimony Wednesday, Holmes reiterated that she never intended to mislead investors, even though she admitted that they lost money under her reign. In addition to 155 months in prison, Balwani was ordered to serve three years of probation after the sentence. It was a good-faith loan.". By 2004, after Holmes had launched Theranos, Balwani had become something of a confidant. Ramesh "Sunny" Balwani, 57, is an American businessman and the ex-president and chief operating officer of Theranos, a health technology company founded by his then-girlfriend Elizabeth Holmes.. The wild and complicated story of Theranos founder Elizabeth Holmes and her quest to create a company that would diagnose a slew of serious health conditions with a single drop of blood is finally drawing to a close. One former employee says, also on the podcast, that Balwani earned the nickname "the enforcer" due to his intimidating management style. Her book, White House By the Sea, about the Kennedys in Hyannis Port, is out summer 2023. Her turnaround efforts included ousting Theranos' chief operating officer, Sunny Balwani, who also had been her lover. How much did Sunny Balwani invest in Theranos? - StyleCaster And upset with me for not doingeverything you wanted me to do.'. Holmes accused Balwani of abuse in court proceedings, providing text messages and contemporaneous notes from their relationship as evidence. Ramesh 'Sunny' Balwani sentenced to nearly 13 years in prison for fraud Theranos claimed the machines required just a few drops of blood to run and could execute more than 1,000 tests. A 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 . She was found not guilty of four counts involving defrauding patients who'd submitted to Theranos blood tests and the jury didn't reach a verdict concerning three counts of deceiving investors, which led to a mistrial. Balwani left the company in 2016 after Holmes brought in outside advisers and lab directors. Balwani committed no crimes. Where Is Murdaugh Murders Alex Murdaugh Now? We may earn a commission through links on our site. The New York Times has reported that Balwani worked as sales manager for Microsoft. Since Sunny has . By this time, Theranos was hoping to market directly to consumers through retail partners, even though their blood-testing machine was still not ready; it could not consistently or accurately give results for the number of tests it claimed to be capable of running. Where Is The Dropout's Sunny Balwani Today? 'U are underestimated the challenges ahead and being childish,' he said in one of the messages. 01:59 GMT 04 Jan 2022. Who is Elizabeth Holmes' ex-boyfriend, Sunny Balwani? However, Balwani's trial was separated from Holmes'. Theranos COO Ramesh "Sunny" Balwani was sentenced in California federal court on Wednesday after his conviction on fraud charges in the wake of the blood-testing startup's implosion. (Balwani will face the same charges and potential sentencing as Holmes.). Ramesh "Sunny" Balwani, the former lover and business partner of Theranos CEO Elizabeth Holmes, arrives at federal court in San Jose, Calif. on Dec. 7, 2022. The other main character from this real-life saga is Ramesh "Sunny" Balwani, the Theranos founder's business partner and ex-boyfriend. Sunny would often blow off steam or vent through text, Holmes said. The dramatic rise and fall of Theranos, the company founded in 2003 by then 19-year-old Stanford University dropout Elizabeth Holmes, captured the world's attention. Mr. Balwani is innocent, and looks forward to clearing his name at trial.. Cant focus on anything except why? The texts between Holmes and her ex show how - before she reported to authorities that Balwani abused her into committing fraud - she considered him her 'king', her 'tiger' and the man she would build a future with. Sunny Balwani: Former Theranos executive gets nearly 13 years in prison Theranos' Sunny Balwani Asks for No Prison Time; Prosecutors Want 15 Earlier in her testimony, Holmes told the jury that being raped while a student at Stanford University pushed her to drop out of school and throw herself into building the company. ", Although Holmes and Balwani both touted the technology as able to run more than 200 blood tests based on a single drop of blood, prosecutors said, the evidence showed that at most the Theranos system could provide results only for 12 types of blood tests, and those only "with serious accuracy problems. REUTERS Holmes, who was romantically. Elizabeth Holmes' Business Partner Sunny Balwani Found Guilty - Forbes They also talked about how Balwani thought they were 'lazy' and 'disorganized'. Elizabeth Holmes' Attorneys Say She Gave Birth To Second Child In I did have a question about that physical moment you mention in the Beijing scene how Sunny slams his fist when talking about his father's death. What Is Jenna Ortega's Net Worth In 2023? Balwani had told Holmes "I am responsible for everything at Theranos. She'd reportedly first met him during a college trip to Beijing when she was 18. Sunny Balwani's trial began in March 2022; he was charged with 12 counts of fraud. All rights reserved. Elizabeth Holmes has 2nd child as prison sentence looms In fact, he met Holmes when she was just 18 and joined Theranos in its early days. Heres everything you need to know. Several of the newly unsealed documents relate to the successful efforts by Holmes's ex-boyfriend, Ramesh "Sunny" Balwani, to separate his trial from hers. He was convicted on 12 fraud-related charges. According to Carryrous reporting in Bad Blood, Balwani then began to take on an immediate management role to the confusion and discomfort of many at the company; he is described as something a paranoid bully. We will do this togetherand I will be by yourself [sic] until then. Six months later, in late 2009, Balwani was made the president and COO of the company, in spite of the fact he didn't have experience in science or lab testing. Ramesh "Sunny" Balwani, former president and chief operating officer (COO) of Theranos and ex-boyfriend of founder Elizabeth Holmes, arrives during jury deliberations at his federal trial for wire . Elizabeth Holmes Co-Conspirator Sunny Balwani Sentenced to Nearly 13 Damage can come in the form of economic harms as much as it can come in the form of violent harm," Volkar said. They developed a friendship, which later turned into a romantic relationship and then a dysfunctional partnership with Balwani investing some $12-14 million into Holmes company before leaving in 2016. Federal prosecutors indicted Balwani and Holmes in 2018, the same year Holmes agreed to forfeit control of Theranos. Is Elizabeth Holmes' guilty verdict a wake-up call for startups? Sunny Balwani, Elizabeth Holmes' former partner, sentenced in Theranos Willnail this motherf****r' . The publication's reporting eventually prompted the company's dissolution in 2018 and, later, the arrest of Balwani and Holmes on fraud charges. They were both students18-year-old Elizabeth was on a language-immersion trip with Stanford University, while 37-year-old Sunny was pursuing his MBA at the University of California, Berkeley, per Refinery29. In 2015, the company came under scrutiny. Women's Health may earn commission from the links on this page, but we only feature products we believe in.