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. Comparisons between Balwani and his ex-girlfriend and former Theranos CEO Elizabeth Holmes have increased . I wanted to change the impact the company could make for people and for health care, Holmes said. Mr. Balwani is innocent, and looks forward to clearing his name at trial.. Balwani perpetrated a "decade-long campaign of psychological abuse," Holmes' lawyers argued. It would also be far larger that than the $120 million loss estimate that Davila used in calculating Balwani's prison sentence. Amanda Seyfried plays Theranos founder Elizabeth Holmes. A federal judge on Monday, Nov. 7, granted a three-week delay in the sentencing of Balwani to give probation officers more time to recommend his punishment for engineering a . Ahead of her sentencing, her . By Kate Storey and Abigail Covington. In Friday's hearing, one of Balwani's lawyers sought to deflect the blame for Theranos' eventual collapse to Holmes. In February, after Holmes's trial wrapped, Balwanis counsel asked the judge to exclude from his trial any evidence or information obtained during Holmess proceedings. Balwani, 57, is also trying to convince U.S. District Judge Edward Davila to delay the start of his nearly 13-year prison sentence. Balwani's sentencing in federal court marks the end of the Theranos saga, which enthralled the public and prompted documentary films and novel treatments. 2 executive, alleging that his emotional abuse crimped her ability to run the company. And in 2018, both Holmes and Balwani were indicted on charges of fraud. Balwani, who also served as chief operating officer at Theranos, was convicted in July after a 13-week trial that detailed his trajectory from a wealthy software engineer who formed a romantic relationship with Holmes to a second-in-command figure at Theranos who invested millions in the startup and oversaw day-to-day operations. David Paul Morris/Bloomberg via Getty Images, Bad Blood: Secrets and Lies In aSilicon Valley Startup. 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. A former Theranos employee told 60 Minutes that Sunny was abrupt with staffers and would fire people on the spot who didnt produce the test results they were after. Balwani left the company in 2016 after Holmes brought in outside advisers and lab directors. He bought a condo in Palo Alto, and in 2005 Holmes moved in with him. Where Sunny Balwani From 'The Dropout' Is Now, Every Song From the Daisy Jones' Soundtrack, Securities and Exchange Commission (SEC) attorney asked Holmes about Balwanis hiring, reported that Balwani worked as sales manager for Microsoft, texts obtained by Carryrou show that both he and Holmes were actively involved, testified that Balwani abused her and forced her to have sex with him, Your Privacy Choices: Opt Out of Sale/Targeted Ads. 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. He faces the same fate as Elizabeth Holmes. He told me that I didnt know what I was doing in business, that my convictions were wrong, that he was astonished at my mediocrity and if I followed my instincts, I was going to fail, Holmes claimed. SAN JOSE, Calif. . So so much. Hurts so much. Former Theranos COO Sunny Balwani was found guilty in all 12 counts of fraud on July 7. Ex-Theranos President Sunny Balwani Sentenced. A hearing on his request was held earlier this month, but Davila . However, this figure is likely to drop if he is convicted. Elizabeth Holmes Sentenced to More Than 11 Years in Prison for Theranos Scam, Judge Denies Motion by Former Theranos Executive Sunny Balwani for New Trial, Team of Volunteers Escort, Protect Hot Dog Vendor Attacked Outside SAP Center, Los Gatos Mom Accused of Hosting Alcohol-Fueled Teen Parties Attacked in Jail, Hospitalized, People Are Buying Girl Scouts' Raspberry Rally Cookies on eBay and the Scouts Are Not Happy. Holmes was then 19 and attending Stanford University's Mandarin program, which was held over the. 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. When she needed more investors to help the company expand, Sunny gave her enough money to keep going. Both Holmes and Balwani were indicted on wire fraud charges in . Balwani faced a sentence of 20 years for each of the 12 counts, but legal experts expect the sentences to be served at the same time, giving him a maximum sentence of 20 years. Hearst Magazine Media, Inc. All Rights Reserved. 2023 NYP Holdings, Inc. 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Ramesh "Sunny" Balwani, the former COO of failed blood testing startup Theranos and ex-boyfriend of founder Elizabeth Holmes, was found guilty of defrauding investors and patients. 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. 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. Theres the HBO documentary The Inventor, the Wall Street Journal podcast Bad Blood, a book by the same name, and ABCs podcast The Dropout, which Hulu recently adapted into a miniseries starring Amanda Seyfried. #Update: Prosecutors ask for a 15-year prison sentence (and $803 million in restitution) for Sunny Balwani, former boyfriend of Elizabeth Holmes and COO of Theranos.He was convicted on 12 counts of fraud and conspiracy.His sentencing is December 7th. There were people that were long-term investors and I wanted to talk about what this company could do a year from now, five years from now, 10 years from now.. Davies also stressed Balwani's compliance with all bail requirements since he was indicted in 2018 as evidence that he isn't a flight risk. Sunny was convicted of 12 fraud-related charges back in July. .css-umdwtv{-webkit-text-decoration:underline;text-decoration:underline;text-decoration-thickness:.0625rem;text-decoration-color:#FF3A30;text-underline-offset:0.25rem;color:inherit;-webkit-transition:background 0.4s;transition:background 0.4s;background:linear-gradient(#ffffff, #ffffff 50%, #d5dbe3 50%, #d5dbe3);-webkit-background-size:100% 200%;background-size:100% 200%;}.css-umdwtv:hover{color:#000000;text-decoration-color:border-link-body-hover;-webkit-background-position:100% 100%;background-position:100% 100%;}Elizabeth Holmes has been the star of multiple media projects. All Rights Reserved. The interest increased with the airing of the limited series "The Dropout," which featured Amanda Seyfried as Elizabeth Holmes and Naveen Andrews as her boyfriend and business partnerRamesh "Sunny" Balwani. .css-26w0xw{display:block;font-family:NationalBold,Helvetica,Arial,Sans-serif;font-weight:bold;margin-bottom:0;margin-top:0;-webkit-text-decoration:none;text-decoration:none;}@media (any-hover: hover){.css-26w0xw:hover{color:link-hover;}}@media(max-width: 48rem){.css-26w0xw{font-size:1.18581rem;line-height:1.2;margin-bottom:0.625rem;}}@media(min-width: 40.625rem){.css-26w0xw{line-height:1.2;}}@media(min-width: 48rem){.css-26w0xw{font-size:1.28598rem;line-height:1.2;margin-bottom:0rem;}}@media(min-width: 64rem){.css-26w0xw{font-size:1.575rem;line-height:1.1;margin-bottom:-0.5rem;}}How To Avoid Unexpected Health Bills, Succession Gift Guide For Fans Of The Roy Family, 'Murdaugh Murders' Mallory Beach: Her Life & Death, This 6-In-1 Vacuum Is $400 Off On Amazon RN. Lawyers for Balwani depicted Theranos as a venture launched and shaped by Holmes. He, like Holmes, is out on bail and expected to be sentenced in November 2022. Holmes was lauded as a visionary who would change health care forever and in 2014, she became the world's youngest female self-made billionaire, per Britannica. Volkar suggested Balwani may have more incentive to flee with his lengthy prison sentence now less than a month away and argued he remains a potential menace. During his tenure, Theranos had repeated failures, including falsified documents and erroneous test results. Who was the most important adviser to you? asked Downey. FILE - Ramesh "Sunny" Balwani, right, the former lover and business partner of Theranos CEO Elizabeth Holmes, walks into federal court in San Jose, Calif., June 24, 2022. "Once we started working together it was a very intense relationship and that romantic piece that was there at the very beginning died," Holmes said during her deposition. So, Which Band Inspired 'Daisy Jones & The Six'? Ramesh "Sunny" Balwani is the former COO of Theranos, as well as the former lover of Theranos CEO and founder Elizabeth Holmes. 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. The deceit resulted in Balwani's conviction on 12 counts of fraud and conspiracy. 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. 00:29 GMT 04 Jan 2022 Holmes replied: 'I saw it. U.S. District Judge Edward Davila, who presided over both trials, sentenced Holmes to more than 11 years in prison, despite her lawyers' request for a maximum sentence of 18 months of house arrest.