Elizabeth Holmes

Balwani's verdict comes months after Holmes was convicted of four counts of conspiring to defraud investors.

While testifying in her case, Holmes said Balwani was emotionally and sexually abusive during their relationship, often criticizing her, isolating her from family and friends, and forcing her to have sex with him when she didn’t want to. His attorneys sought to place blame for Theranos’s failures on Holmes as they painted Balwani as an executive and investor who truly believed in the company’s technology and wanted to make it a success. She testified that while he did not control her communications with investors, journalists, and business partners, he “impacted everything” about who she was. Unlike Holmes, who testified over seven days at her trial, Balwani did not take the stand in his defense. Instead, Theranos relied on commercially available machines to run most of its tests, diluting the drops of blood to increase volume for some tests and using much larger samples drawn from patients’ arms for others. Each count carries a maximum sentence of 20 years in prison, plus a fine of $250,000.

Four years after the top two Theranos executives, Elizabeth Holmes and Ramesh "Sunny" Balwani, were first indicted together on a dozen federal fraud charges ...

Like Holmes, Balwani faces up to 20 years in prison as well as a fine of $250,000 plus restitution for each count of wire fraud and each conspiracy count. On March 22, opening arguments are held and the government's first witness, a former Theranos employee turned whistleblower, is called to the stand. Balwani, however, is fighting the charges, with his attorney saying he "accurately represented Theranos to investors to the best of his ability." Reporter John Carreyrou, who first broke open the story of Theranos for the Wall Street Journal, publishes "Bad Blood," a definitive look at what happened inside the disgraced company. Theranos agrees to pay $4.65 million back to its Arizona customers as part of a settlement deal. In response, Theranos defends its testing practices, calling the Journal's reporting "factually and scientifically erroneous." Balwani guarantees a $10 million loan to Theranos and soon after takes on a formal role at the startup. saying its California lab has failed to comply with federal standards and that patients are in "immediate jeopardy." In 2018, Holmes and Balwani were each charged with a dozen counts of wire fraud and conspiracy to commit wire fraud. The first Theranos Wellness Center location opens in a Walgreens in Palo Alto where consumers can access Theranos' blood test. Then came a Wall Street Journal investigation into the company, which called into question the company's testing methods and the capabilities of its technology. The two kept in touch and began living together in 2005, Holmes testified during her criminal trial.

The San Jose jury in the federal trial of former Theranos President Ramesh "Sunny" Balwani found Balwani guilty of 12 counts of fraud and conspiracy ...

Former Theranos CEO Elizabeth Holmes was was found guilty of four counts of defrauding investors in January and is awaiting sentencing. Holmes, perhaps somewhat successfully in her trial, took the stand to give tearful testimony that Balwani was abusive and manipulative, and that he was the driving force behind the fraud. As the Associated Press recounts, jurors in Balwani's trial heard that the 57-year-old entrepreneur put up $15 million of his own money to invest in Theranos in 2010, and Holmes made him her second-in-command while secretly dating him as well.

Multiple outlets reported Ramesh "Sunny" Balwani was convicted of fraud-related charges stemming from his time as chief operating officer at Theranos.

She was not a witness in Balwani's trial. They became romantically involved around the time Holmes dropped out of Stanford at 19 to focus on Theranos. His conviction follows Holmes' conviction in January of three counts of wire fraud and one count of conspiracy to commit wire fraud after a months-long trial.

Unlike Holmes, Balwani was convicted of a conspiracy count to defraud patients along with other counts.

Additionally, each could face restitution for each count of wire fraud and conspiracy they are convicted of. Each count of wire fraud and conspiracy carries a sentence of 20 years. The most recent verdict convicted Balwani, 57, of two counts of conspiracy to commit wire fraud and 10 counts of wire fraud. Holmes, 37, was convicted in January on two counts of wire fraud and two counts of conspiracy to commit fraud. Founded in 2003 by Holmes, Theranos was heralded in Silicon Valley for technology that promised to identify over 1,000 datasets from a single drop of blood, streamlining diagnosis and treatments for patients. "We are obviously disappointed with the verdicts," Jeff Coopersmith, attorney for Balwani, told Newsweek in an email.

The founder and former CEO of Theranos Inc was once tipped by Silicon Valley to be the next Steve Jobs.

She was found not guilty on four counts of defrauding patients – three counts of wire fraud and one of conspiracy to commit wire fraud. Elizabeth Holmes was found guilty on four counts of defrauding investors – three counts of wire fraud, and one of conspiracy to commit wire fraud. Holmes faces a maximum sentence of 20 years in prison, and a fine of $250,000, plus restitution, for each count of wire fraud and for each conspiracy count. Who is she married to and does she have a baby? Holmes had pleaded not guilty to all counts of wire fraud and conspiracy to commit wire fraud. Elizabeth Holmes is facing a maximum of 20 years behind bars after being found guilty of defrauding investors.