Former Theranos executive Ramesh 'Sunny' Balwani was sentenced to nearly 13 years in prison for his role in one of the biggest scandals in biotech history.
Balwani was convicted back in July of fraud and conspiracy connected to the company’s bogus medical technology. The former COO, along with CEO and founder Elizabeth Holmes — who was also Balwan's romantic partner — spent years promoting technology that they claimed could scan for hundreds of diseases and other potential health issues with just a few drops of blood. Holmes and Balwani were warned that the blood tests were inaccurate, yet continued to raise money from investors.
Balwani's prison sentence is slightly longer than that given to Holmes. Back in January, a U.S. jury has found Holmes guilty of defrauding investors in the blood testing startup, convicting her on four counts. Last month, she received 11 years in prison for her part in the scheme.
Lawyers representing Balwani maintain that he was less culpable than Holmes, pointing out that Balwani invested millions of dollars of his own funds.
