US court sentences former Theranos president Ramesh Balwani to 13 years in prison for fraud
former Theranos Inc President Ramesh "Sunny" Balwani
A US judge on Wednesday sentenced Ramesh "Sunny" Balwani, former Theranos Inc president and ex-boyfriend of its founder Elizabeth Holmes, to 12 years and 11 months in prison for defrauding the failed blood-testing startup's patients and investors.
US District Judge Edward Davila in San Jose, California, handed down the sentence after a jury found Balwani guilty in July on two counts of conspiracy and 10 counts of fraud.
Watch |Court finds Former Theranos executive Ramesh Balwani guilty for fraud and conspiracy
Balwani as per AFP was found guilty of participating in what the prosecution claimed was a massive fraud perpetrated on Theranos investors and patients. His almost 13 years in prison, will be followed by three years of supervised release.
According to Reuters, the prosecution said that Balwani and Holmes tricked Silicon Valley investors into thinking that the company had developed miniature devices that could precisely execute a variety of diagnostic medical tests using a small amount of blood. However, the business secretly used conventional methods and gave patients false results.
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The top aide has been given till March 15 to surrender to be taken into custody.
Homes and Balwani were indicted in 2018. In January, Holmes was found guilty on four counts of fraud and conspiracy but was acquitted on the charges of defrauding patients.
Also read |Theranos founder Elizabeth Holmes seeks leniency from court ahead of November 18 sentencing
At a hearing last month, the judge sentenced Holmes to 11-1/4 years in jail, describing Theranos as a business "dashed by untruths, misrepresentations, plain hubris, and lies."
The prosecution however contended that Balwani should be sentenced to 15 years in prison because he prioritised "Theranos' financial health over patients' real health" and was aware that Theranos' tests were faulty due to his oversight of the company's laboratory operations.
(With inputs from agencies)
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