A US jury has convicted former Theranos Inc president Ramesh 'Sunny' Balwani of defrauding investors and patients about the blood testing startup that was once valued at $9 billion.
A US jury has convicted former Theranos president Ramesh "Sunny" Balwani of defrauding investors and patients about the blood testing startup that was once valued at $9 billion.Theranos founder Elizabeth Holmes was previously convicted on three counts of fraud and one of conspiracy
The jury in San Jose, California, deliberated for a little more than five days before convicting Balwani on two counts of conspiracy and 10 counts of fraud, a spokesperson for US attorney Stephanie Hinds said. They were granted separate trials after Holmes said she would testify that Balwani was abusive towards her in their romantic relationship. Balwani denied the allegations."We are gratified by the jury's hard work and attentiveness to the evidence presented," Ms Hinds said in a statement.Balwani's attorney Jeffrey Coopersmith said the defence was "obviously disappointed with the verdicts" and would consider all options including an appeal.
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