Second Theranos executive convicted of fraud
Blood testing startup president Ramesh ‘Sunny’ Balwani defrauded both investors and patients
A US federal jury has found former Theranos president and chief operating officer Ramesh ‘Sunny’ Balwani guilty on 12 counts of fraud, for conspiring to defraud both investors and patients about the capability of the company’s blood testing technology. In January, Elizabeth Holmes – Theranos’s founder and former chief executive, and Balwani’s ex-girlfriend – was convicted on four counts of fraud against investors but was not found guilty of defrauding patients.