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In 2009, Sunny became the president and COO of Theranos. 'We are lazy and disorganized and not focused, in work but also in the context of u and me,' he said. Sunny's trial was being held in the same courtroom where Elizabeth was convicted earlier in January, and he faced the same charges. 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 . 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. A Division of NBCUniversal. Ramesh Sunny Balwani first met future Theranos founder Elizabeth Holmes in Beijing in 2002. Sunny Balwani, former president of Theranos Inc., arrives at federal court in San Jose, California, on Wednesday, Dec. 7, 2022. Elizabeth focused on big-picture vision while it was Balwani's job to manage the employees and business partners. 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. Women's Health may earn commission from the links on this page, but we only feature products we believe in. According to reporting by The Wall Street Journals John Carryrou, who first exposed Thernos fraudulent claims to investors in a series of articles, Balwani and Holmes relationship began as a friendship in the summer of 2002. And Holmes's mother told that reporter: As a parent, I do hope that at some point she will have time for herself.. By 2004, after Holmes had launched Theranos, Balwani had become something of a confidant. Holmes and Balwani both face 12 chargestwo counts of conspiracy to commit wire fraud and 10 counts of wire fraudfor allegedly engaging in a multimillion-dollar scheme to deceive investors . While Sunny faces up to two decades in prison on fraud charges, like Elizabeth, hes not currently in police custody. Jurors were also instructed to avoid speculating why Balwani was absent from Holmes' trial. Prosecutors. | Michael Liedtke/AP Photo Balwani says he gave her a $12-14 million loan. 2023 NYP Holdings, Inc. All Rights Reserved, Theranos fraudster Elizabeth Holmes gives birth to 2nd child as 11-year prison sentence looms, Disgraced Theranos founder Elizabeth Holmes responds to claim she tried to flee to Mexico, Elizabeth Holmes tried to flee to Mexico after conviction, prosecutors say, Elizabeth Holmes living in $13,000-per-month estate, showing no remorse: feds, told the jury that being raped while a student at Stanford University, Holmes nearly 20 years younger than Balwani. The lawyer also pointed to Balwani's non-violent history and past charity work in India as evidence he poses no danger to the community. Balwani is scheduled to be sentenced in federal court in San Jose on Dec. 7. US District Judge Edward Davila in San Jose, California, imposed the sentence onBalwani, who wasconvictedby a jury on two counts of conspiracy and 10 counts of fraud in July. Here's the lowdown on Balwani and how he fits into the never-ending Theranos scandal. The company collapsed after a series of Wall Street Journal articles in 2015 questioned its technology. The company was bought within a year for $225 million. 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 . The company was operating on a loss and Balwani didn't want to leave until they recouped some money. He wiggles his fingers when talking about. Elizabeth Holmes, left in court last month, is on trial for fraud. (BCN) In another twist to the continuing saga of the trials of Theranos founder Elizabeth Holmes and her former business partner and lover, Ramesh . At Abercrombie Is On Sale RN, Shop Amazon's Gardening Sale Before Spring. In July 2015, the pair discussed Balwani leaving the company. It was a good-faith loan.". 24/7 coverage of breaking news and live events. Balwani was convicted of 12 counts of wire fraud and conspiracy based on his role in selling investors and patients on Theranos' malfunctioning blood-testing technology. She'd reportedly first met him during a college trip to Beijing when she was 18. Among the thousands of documents that were presented at Theranos founder Elizabeth Holmes fraud trial were the lovesick text messages she and Sunny Balwani, her alleged abuser, exchanged before their Silicon Valley empire crumbled around them. Former Theranos Chief Operating Officer and President Ramesh "Sunny" Balwani was sentenced to nearly 13 years in prison Wednesday for fraud, after the unraveling of the blood-testing juggernaut. In a sentencing . Balwani had become the companys president and COO, despite having little experience in biochemistry. In dueling sentencing memorandums filed late Wednesday night, lawyers for convicted Theranos executive Ramesh "Sunny" Balwani told a federal judge that their client should be put on probation and not serve any prison time. 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. 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. In her presentation, Amy Walsh asserted Theranos still had $350 million in cash and intellectual property worth about $100 million in May 2016 when Holmes fired Balwani as the company's chief operating officer and ended their romantic relationship. He was a 37-year-old South. Their trials were severed in 2021. On Dec. 7, Federal District Judge Edward J. Davila sentenced Sunny to nearly 13 years in prison, according to The Washington Post. Texts between the two were released during the trial, which included Sunny saying things like Missing u in every breath and in every cell, per Bloomberg, with Elizabeth replying ditto.. 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. Instead, he "worked day and night to build a company that he thought would change the landscape of diagnostic testing for the better. When she started dating Sunny Balwani, her co-defendant who is being tried separately, "he said I was safe now that I had met him." Then, she said, he abused and raped her. On Dec. 7 in San Jose, California, Federal District Judge Edward J. Davila sentenced Sunny to nearly 13 years in prison, according to The Washington Post. 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The jurors in Ramesh "Sunny" Balwani's criminal fraud trial reached a verdict after five days of deliberation. Sunny Balwani and Elizabeth Holmes Go To Trial In June 2018, Holmes and Balwani, who was also Holmes' boyfriend for a time, were indicted on nine counts of wire fraud and two counts of. pic.twitter.com/W7AmOD6UY0, Copyright 2023 NBCUniversal Media, LLC. Updated: Oct 12, 2022 / 10:04 AM PDT. Balwani and Holmes's relationship ended at about the same time he left Theranos. You Can Stream Every 'Rocky' Movie Right Now, 'WoF' Fans Say This Is the 'Biggest Choke' on Show, Daisy Jones & the Six Is a Rock Epic in 10 Parts, See Mariska Hargitays Emotional Tribute on IG. Korin Miller is a freelance writer specializing in general wellness, sexual health and relationships, and lifestyle trends, with work appearing in Mens Health, Womens Health, Self, Glamour, and more. On Sept. 6, Holmes filed a petition for a new trial based on the reliability of testimony provided by former Theranos lab director . Once valued at $9 billion, Theranos promised to revolutionize how patients receive diagnoses by replacing traditional labs with small machines envisioned for use in homes, drugstores and even on the battlefield. As in .css-16acfp5{-webkit-text-decoration:underline;text-decoration:underline;text-decoration-thickness:0.125rem;text-decoration-color:#d2232e;text-underline-offset:0.25rem;color:inherit;-webkit-transition:all 0.3s ease-in-out;transition:all 0.3s ease-in-out;}.css-16acfp5:hover{color:#000;text-decoration-color:border-link-body-hover;background-color:yellow;-webkit-transition:all 0.3s ease-in-out;transition:all 0.3s ease-in-out;}The Dropout, Hulus new series dramatizing the rise and fall of Theranos, Holmes and Balwani immediately became close. 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 is being tried separately next year. He was convicted on 12 fraud-related charges. 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 atmosphere of the place became caustic, former Theranos vice president Anthony Nugent testified, according to Bloomberg. .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'? In over 28 years of practicing law, as both a federal prosecutor and a defense attorney, I have never seen a case like this one, where the government brings a criminal prosecution against a defendant who obtained no financial benefit and lost millions of dollars of his own money, attorney Jeffrey Coopersmith told Vanity Fair in 2018. Jul 7, 2022, 7:01 PM UTC. Another New York Times article reported that Holmes' lawyer told the jury in an opening statement that "Trusting and relying on Mr. Balwani as her primary adviser was one of her mistakes." Sunny was convicted of 12 fraud-related charges back in July. We are no longer accepting comments on this article. Holmes replied: 'What makes you say lazy.'. Balwani's trial has been scheduled for next year. Disgraced Theranos founder Elizabeth Holmes closed the last day of testimony in her criminal fraud trial by once again bashing her ex-boyfriend and former No. Holmes accused Balwani of abuse in court proceedings, providing text messages and contemporaneous notes from their relationship as evidence. Balwani was convicted of 12 counts of fraud and conspiracy in July. A US judge on Wednesday sentenced former Theranos President Ramesh "Sunny" Balwani to 12 years and 11 months in prison on charges of defrauding investors and patients of the blood testing. Holmes, who started the company as a college student and became its public face, was indicted alongsideBalwani, her former romantic partner, in 2018. Her boyfriend Ramesh Sunny Balwani, who also served as the president and chief operating officer of Theranos, was by Elizabeth's side most of the wayand he plays a big role in the legal issues that arose, too. Although Holmes defense at the recent trial would claim that Balwani was the one actively overseeing lab testing and inflating the companys financial models, texts obtained by Carryrou show that both he and Holmes were actively involved with the companys day-to-day operations.