{"id":1543347,"date":"2022-07-07T17:05:48","date_gmt":"2022-07-07T21:05:48","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1543347"},"modified":"2022-07-07T17:05:57","modified_gmt":"2022-07-07T21:05:57","slug":"u-s-jury-convicts-theranos-sunny-balwani-of-fraud","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-jury-convicts-theranos-sunny-balwani-of-fraud\/","title":{"rendered":"U.S. jury convicts Theranos\u2019 Sunny Balwani of fraud"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fu-s-jury-convicts-theranos-sunny-balwani-of-fraud%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1543347&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Jody Godoy<\/p>\n<p>(Reuters) -A U.S. jury on Thursday convicted former Theranos Inc President Ramesh \u201cSunny\u201d Balwani of defrauding investors and patients about the blood testing startup that was once valued at $9 billion.<\/p>\n<p>The San Jose, California, jury deliberated for a little more than five days before convicting Balwani on two counts of conspiracy and 10 counts of fraud, a spokesperson for U.S. Attorney Stephanie Hinds said. <\/p>\n<p>Sentencing was scheduled for Nov. 15.<\/p>\n<p>Theranos founder Elizabeth Holmes, who initially faced the same charges, was convicted on three counts of fraud and one count of conspiracy at a separate trial in January. She is scheduled to be sentenced on Sept. 26. <\/p>\n<p>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.<\/p>\n<p>\u201cWe are gratified by the jury\u2019s hard work and attentiveness to the evidence presented,\u201d Hinds said in a statement. \u201cWe appreciate the verdict and look forward to sentencing proceedings.\u201d<\/p>\n<p>Balwani\u2019s attorney Jeffrey Coopersmith said the defense was \u201cobviously disappointed with the verdicts\u201d and would consider all options including an appeal.<\/p>\n<p>Balwani and Holmes were charged in 2018 with lying to investors about the company\u2019s finances and its machines\u2019 ability to run a broad range of tests from a few drops of blood. Prosecutors also charged the pair with duping patients about the tests\u2019 accuracy.<\/p>\n<p>Theranos investors were drawn to Holmes, with her deep, authoritative voice, black Steve Jobs-esque turtleneck and her promise to upend the laboratory testing industry by creating portable machines that could run a broad array of tests.<\/p>\n<p>The company touted work with drugmakers, pharmacies and the U.S. military and received investments from media mogul Rupert Murdoch.<\/p>\n<p>Theranos collapsed after the Wall Street Journal published a series of articles, starting in 2015, that suggested its devices were flawed and inaccurate.<\/p>\n<p>At trial, Holmes made the somewhat unusual decision to testify in her own defense and denied lying to investors. She has argued that the evidence was insufficient to support the verdict. <\/p>\n<p> (Reporting by Jody Godoy in New York; Editing by Noeleen Walder and Howard Goller)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/u-s-jury-convicts-theranos\/file-photo-former-theranos-partner-balwani-walks-to-federal-trial\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/tagreuters.com2022binary_LYNXMPEI660Y9-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI660Y9-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Jody Godoy (Reuters) -A U.S. jury on Thursday convicted former Theranos Inc President Ramesh \u201cSunny\u201d Balwani of defrauding investors and patients about the blood testing startup that was once<\/p>\n","protected":false},"author":287,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1543347","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1543347","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/287"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1543347"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1543347\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1543347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1543347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1543347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}