Former Theranos President Sunny Balwani Sentenced 12 Years in Prison

Celebrity News, News

Ramesh “Sunny” Balwani has been handed his fate.

The 57-year-old—who served in multiple executive positions at Theranos, the health technology company founded by Elizabeth Holmes—was sentenced to 12 years and 11 months in federal prison on Dec. 7, per a statement from United States Attorney Stephanie M. Hinds obtained by E! News.

In addition to his nearly 13-year sentence, Balwani—who was found guilty by a federal jury of defrauding investors, patients and doctors through Theranos earlier this year—was also given three years of supervision following his eventual release from prison, which he has been ordered to surrender and begin serving on March 15, 2023.

The amount of restitution Balwani will have to pay is still a pending decision. A hearing is set to be scheduled in the future.

Following the judgement, Hinds noted in a statement that Balwani’s sentence “should serve as a lesson to anyone considering fraud in their own push for success.”

Products You May Like

Articles You May Like

Raiders’ Maxx Crosby Rips Joey Bosa For Blasting Refs, ‘F***ing Crybaby’
The Future of Canada Goose Is Fur-Free and Gen Z-Approved
Spring 2023 Is All About Standing Out
Tyre Nichols’ Stepdad Denies Rumor Tyre Had Affair with Officer’s Wife
Armie Hammer Breaks Silence on Rape and Sexual Misconduct Allegations

Leave a Reply

Your email address will not be published. Required fields are marked *