Tag Archives: Theranos

Ramesh “Sunny” Balwani, former president and chief operating officer (COO) of Theranos and ex-boyfriend of founder Elizabeth Holmes, leaves after the opening day of his federal trial for wire fraud and conspiracy to commit wire fraud was postponed due to coronavirus disease (COVID-19) exposure in the courtroom in San Jose, California, U.S. March 16, 2022. REUTERS/Brittany Hosea-Small Ramesh “Sunny” Balwani, the former president and chief operating officer of the defunct Silicon Valley… Source link

The judge who presided over the criminal fraud trials of Theranos founder Elizabeth Holmes and her co-defendant and one-time boyfriend, Theranos COO and president Ramesh “Sunny” Balwani, sentenced Balwani on Wednesday to nearly 13 years in prison plus three years of probation. “They misled investors, they misled patients,” U.S. District Court Judge Edward Davila said during Balwani’s sentencing hearing in San Jose, California, according to NBC News. “I think it’s just that enduring… Source link

Elizabeth Holmes, founder and CEO of the collapsed Silicon Valley blood testing company, Theranos, has been sentenced to 11.25 years in prison plus three years supervised release for financial crimes she committed while running the once-high flying venture. Holmes was also fined a $400 million special assessment. Holmes must surrender to custody on April 27, 2023. Holmes is expected to appeal. The judge presiding over Holmes’ trial and sentencing said the landmark case, one of the most… Source link

Elizabeth Holmes, one of Silicon Valley’s most celebrated and vilified startup founders, is scheduled to appear in court in San Jose on Friday for a sentencing hearing where she’s expected to learn whether she’ll go to prison for defrauding investors out of hundreds of millions of dollars. Holmes, who was found guilty in January of three counts of wire fraud and one count of conspiracy related to her now-defunct blood-testing venture Theranos, faces up to 20 years in prison, up to $1… Source link

Convicted Silicon Valley entrepreneur Elizabeth Holmes is scheduled to make part of a last ditch effort for a new trial on Monday during a hearing in the San Jose federal district court where a jury in January convicted her of criminal fraud. Criminal defense lawyers who talked with Yahoo Finance say Holmes’ chance of securing a redo are slim— especially in the wake of a court document filed Wednesday by Dr. Adam Rosendorff the former laboratory director of her defunct blood-testing startup… Source link

Theranos founder Elizabeth Holmes was convicted on three counts of criminal wire fraud and one count of conspiracy to commit wire fraud Monday, with a jury unanimously finding her guilty of illegally fleecing investors out of millions of dollars through her startup blood diagnostics company.  The jury deadlocked on three counts of wire fraud, and she was found not guilty on four counts of defrauding patients. Holmes, 37, turned toward the judge and jurors as the judge’s deputy read the… Source link

Court documents unsealed on Monday revealed new details of ex-Theranos CEO Elizabeth Holmes’ defense strategy, in a closely watched criminal trial accusing her of using her blood-testing startup to defraud both patients and investors. In the documents, Holmes contends that alleged abuse by her onetime boyfriend — former Theranos COO and president Ramesh “Sunny” Balwani, who also faces criminal charges — influenced her beliefs about the startup’s operations and financial well… Source link

The trial of Theranos CEO Elizabeth Holmes officially begins next week — and there’s more at stake than the fate of a disgraced biotech entrepreneur, and a company that’s now become synonymous with fraud. Indeed, there’s at least some element of Silicon Valley that’s also being put on trial, and at least a few entrepreneurs believe the fallout could outlast the trial headlines, particularly for female startup founders. The tech sector’s mantra of “move fast and break things,”… Source link

Theranos founder Elizabeth Holmes exits Robert F. Peckham U.S. Courthouse after the first day of federal court hearings in San Jose, California, U.S. May 4, 2021. REUTERS/Kate Munsch Court documents filed Thursday in the federal criminal fraud case against former Theranos CEO Elizabeth Holmes reveal questions that her attorneys hope to pose in selecting the jurors who will decide the fate of the embattled Silicon Valley entrepreneur. The proposed questionnaire and jury instructions submitted… Source link