Speed Reads


Former Theranos COO Sunny Balwani sentenced to nearly 13 years in prison

Ramesh "Sunny" Balwani, the former chief operating officer and president of the defunct blood-testing startup Theranos, was sentenced on Wednesday to nearly 13 years in prison for fraud.

Theranos attracted high-profile investors by claiming its tests could quickly detect several illnesses with only a few drops of blood. This wasn't true, and after The Wall Street Journal reported on the company and the accuracy of its machinery and testing, and it later came out that the executives were falsifying documents and faking test results, Theranos was dissolved. Both Balwani, 57, and Theranos founder Elizabeth Holmes, 38, were accused of deceiving investors and charged with fraud. In November, Holmes was sentenced to more than 11 years in prison.

Balwani managed the laboratory and finances, and in a message to Holmes that was entered into evidence, wrote, "I am responsible for everything at Theranos." Holmes and Balwani were romantically involved during much of their time at Theranos, and during her trial Holmes accused Balwani of abuse.