GUILTY CA - Ramesh “Sunny” Balwani, 56, (Theranos), wire fraud charges

Welcome to Websleuths!
Click to learn how to make a missing person's thread

DNA Solves
DNA Solves
DNA Solves

New Posts

Former partner of Elizabeth Holmes wins delay in sentencing

A federal judge on Monday granted a three-week delay in the sentencing of Ramesh “Sunny” Balwani, the former lover and accomplice of disgraced Theranos CEO Elizabeth Holmes, to give probation officers more time to recommend his punishment for engineering a scam tied to Theranos’ blood-testing technology.
 
LinasK said:
They both just need to be sentenced and in prison at this point. They are playing the delay game.
Click to expand...
Why would the government "play the delay game"? He can't be sentenced until the probation officers complete their report.
 
LinasK said:
www.foxbusiness.com

U.S. seeking 15-year sentence for former Theranos president Sunny Balwani

Federal prosecutors are calling for ex-Theranos executive Ramesh "Sunny" Balwani to spend 15 years behind bars for defrauding investors out of millions.
www.foxbusiness.com www.foxbusiness.com
Click to expand...

From the link:

Published December 2, 2022 7:11pm EST

The government argued in a court filing this week that 180 months behind bars "would reflect the seriousness of the offenses, promote respect for the law, provide for just punishment for the offenses, and deter Balwani and others."

Balwani's attorneys, in turn, are asking for leniency from the judge. The defense team argued in its own brief that Balwani should only receive probation, and if he is sentenced to serve any time at all it should be on home confinement.

That prospect appears unlikely given that Balwani's co-defendant, Theranos founder and former CEO Elizabeth Holmes, was recently sentenced to more than 11 years in federal detention for far fewer charges.

[..]

Balwani was found guilty in June on all 12 criminal fraud charges against him.


Judge Edward Davila oversaw both Holmes' and Balwani's trials, denied both defendants' requests for new trials and sentenced Holmes last month to 135 months, or 11¼ years in prison.
 
LinasK said:
Not the government. I meant both Balwani and Holmes. Trying to delay going to prison for as long as possible.
Click to expand...

I follow mostly federal court cases and I've not seen anything different and/or unusual about either Holmes or Belwani's federal cases post-verdict, (or convicted individuals facing prison terms).

For example, Sherri Papini did not go to trial but entered an agreement to plead guilty in March, and her report to prison date was not until Nov 8, 2022.

Then there's PA dentist Larry Rudolph (and his girlfriend Lori Milliron) convicted on August 3, 2022, of both mail fraud and murdering his wife in 2016 while on an African safari, and the sentencing for these convictions is not scheduled in the US District Court of Colorado until February 2023 (and report to prison date still later). The Rudolph case was featured on an updated Dateline a couple of nights ago.

In other words, there's really no comparing state convictions with federal convictions when it comes to when they formally enter prison.
 
Given Balwani's across-the-board conviction for all 12 charges involving scamming investors, I'm anxious to see the government's recommended financial penalty/assessment. In comparison, Balwani sleeps on pillows of money.
 
Wednesday, December 7th:
*Sentencing Hearing (@ 10am PT) - CA – *Ramesh “Sunny” Balwani (53/now 57) (CFO & President of Theranos) indicted & charged (6/14/18) & arraigned (6/15/18) with 9 counts of wire fraud & 2 counts of conspiracy to commit wire fraud. Another count of wire fraud was added in 2020, bringing the total number of felony charges to 12. Plead not guilty. Unsecured bon $500K was modified (7/7/22) to secured $750K bond. Faces a maximum sentence of 20 years in prison & a fine of $2.75 million, plus restitution, & $250K for each individual count of wire fraud & conspiracy. Plead not guilty.
Defrauding investors out of $700 million in funding for their blood-testing startup Theranos.
Trial began on 3/22/22 & ended 7/7/22. Jury left: 12 jurors (8 women & 4 men) & 2 alternates (2 men). Jury change: Judge excused #10 (vacation plans) & replaces her with alternate #5. Jury Self: 12 jurors (7 women & 5 men) & 1 alternate (man). See post #203 here for jury eliminations:
https://www.websleuths.com/forums/t...56-theranos-wire-fraud-charges.614821/page-11
Jury Deliberations: 6/24/22 Day 1: ~2 hours. Total: ~2 hours. 6/28/22 Day 2: ~8 hours. Total: ~10 hours. 6/29/22 Day 3: ~8 hours. Total: ~18 hours. 7/5/22 Day 4: ~8 hours. Total: ~26 hours. 7/6/22 Day 5: ~7 hours. 7/7/22 Day 6: ~2 hours. Total: ~35 hours of deliberations. Returned with a verdict of guilty of all 12 charges. Sentencing hearing on 12/7/22 @ 10am.
Indictment & court info from 4/11/20 thru 3/8/22 & Jury selection (Day 1-4) 3/9/22 to 3/21/22 & Trial Days 1-2 (3/22 to 3/23/22) & hearing on 3/29/22 & 4/12/22 & Trial Days 3-14 (3/30 to 4/29/22) & 5/3/22 & Trial Days 15-20 (5/4 & 5/20/22) & 5/17, 5/19, 5/23 & 6/10/22 (no jurors) & Trial Days 21-30 (6/21 & 6/28-6/29, 7/5-7/7/22) & Jury Deliberations Day 1-6 (6/24 & 6/28-6/29, 7/5 & 7/7/22) reference post #259 here:
https://www.websleuths.com/forums/t...56-theranos-wire-fraud-charges.614821/page-13
10/25/22 Update: Motion to continue hearing on 11/7/22 @ 10am. 11/4/22 Update: Hearing changed to 9:30am.
11/7/22 Update: A California federal judge on Monday agreed to delay convicted former Theranos executive Balwani's 11/15/22 sentencing until 12/7/22 after Balwani argued in a heavily redacted motion that. This is to give probation officers more time to recommend his punishment for engineering a scam tied to Theranos’ blood-testing technology.
12/2/22 Update: The government argued in a court filing this week that 180 months behind bars "would reflect the seriousness of the offenses, promote respect for the law, provide for just punishment for the offenses & deter Balwani & others." Balwani's attorneys, in turn, are asking for leniency from the judge. The defense team argued in its own brief that Balwani should only receive probation & if he is sentenced to serve any time at all it should be on home confinement.
*Elizabeth A. Holmes (34/now 38) (CEO of Theranos) – Trial began on 9/8/21 & ended 1/3/22 with a verdict of guilty on 4 counts of 11. Sentencing hearing was to be on 10/17/22 but was delayed with motions for new trial Filed (5/27/22) for dismissal of all charges. All 3 motions for dismissal/new trial-denied. Sentenced on 11/18/22 to 11.25 years (135 months) in prison & 3 years supervised release.
 
Gardenista said:
John Carreyrou
@JohnCarreyrou

Sunny Bałwani just got sentenced to 155 months in prison (12 years and 11 months).
Click to expand...
Haha! Holmes got almost as much!
I sorta felt, though he was guilty, he was going to be hit with a HUGE sentence, both to correspond to the number of convictions, but also because there was a thought that gender, ethnicity, Holmes' wiles, Bulwani's temperament, might all play into this in the courtroom. I guess the judge thought Bulwani and Holmes were closely culpable and should serve roughly similar sentences.

Yeah, sort of. I think they both should serve a lot more time, but I'm thrilled that the judge made the two of them basically equally responsible, by sentencing them close to the same amount.
 
Gardenista said:
John Carreyrou
@JohnCarreyrou

Sunny Bałwani just got sentenced to 155 months in prison (12 years and 11 months).
Click to expand...
SB had better take it! He could have done a lot worse.... It's like the time I was very pleasant with the officer who gave me a speeding ticket for 70 mph because I knew I'd been driving 85 mph (Oregon desert BTW at 2 am).
 
RickshawFan said:
Haha! Holmes got almost as much!
I sorta felt, though he was guilty, he was going to be hit with a HUGE sentence, both to correspond to the number of convictions, but also because there was a thought that gender, ethnicity, Holmes' wiles, Bulwani's temperament, might all play into this in the courtroom. I guess the judge thought Bulwani and Holmes were closely culpable and should serve roughly similar sentences.

Yeah, sort of. I think they both should serve a lot more time, but I'm thrilled that the judge made the two of them basically equally responsible, by sentencing them close to the same amount.
Click to expand...
I guess deep, sexy voices just don't carry as much weight as they used to
 
Niner said:
Found an article when he is supposed to report to prison.

techcrunch.com

Theranos exec Sunny Balwani sentenced to 13 years in prison for defrauding patients and investors | TechCrunch

Unlike the jury at Holmes' trial, the jury at Balwani's trial held him accountable for defrauding patients, not just investors.
techcrunch.com techcrunch.com


Balwani will report to prison on March 15.
Click to expand...

From the link:

Balwani’s trial featured the same evidence that indicted Holmes. The prosecution focused on a key piece of evidence relating to Theranos’ relationship with Walgreens.

[..]

Despite claims to the contrary, a Walgreens executive testified that he worked closely with Balwani on the deal. The prosecution also displayed evidence of a text from Balwani to Holmes stating that he deliberately didn’t tell Walgreens that they were using different machines.

For patients that were unlucky enough to have their blood tested with Theranos’ technology, some got wildly inaccurate results that caused significant disruption to their lives.

[..]

Unlike the jury at Holmes’ trial, the jury at Balwani’s trial held him accountable for defrauding patients, not just investors.
 
You must log in or register to reply here.

DNASolves

Who is Fairfield County Jane Doe (1993)?

Members online

... and 186 more.
Total: 1,857 (members: 187, guests: 1,670)

Online statistics

Members online
187
Guests online
1,670
Total visitors
1,857
Totals may include hidden visitors.

Forum statistics

Threads
606,756
Messages
18,210,785
Members
233,959
Latest member
JoyH
Back
Top