After five days of deliberation, a jury found Ramesh "Sunny" Balwani guilty on all 12 counts of fraud and conspiracy to defraud patients and investors.
Balwani faced identical charges to Theranos founder Elizabeth Holmes. But unlike in the Holmes case from early this year, the jury came to unanimous votes on all counts with no deadlocks, and none of the charges were dropped mid-trial. The verdict against Balwani also includes charges of defrauding patients, which Holmes was cleared of. For these charges, Balwani could face terms of up to 20 years in prison each, likely served concurrently.
The government called in two dozen witness, while the defense called in two: a patient who was happy with a Theranos blood test and an expert who discussed a missing database. Balwani himself did not take the stand.
The government argued that Balwani, who was in charge of big deals at the company and inflated its financials, held a major influence over Theranos and Holmes' decisions. Balwani's lawyers argued that the government didn't have enough evidence to convict him, and tried to paint him as not directly in control of the company's decisions.
Climate TRACE's data show emissions at the facility-level.Image: Climate TRACE