As the weeks countdown to the sentencing of Elizabeth Holmes and Ramesh 'Sunny' Balwani in the notorious Silicon Valley Theranos fraud case, federal prosecutors have issued a public plea and set up an online form for victim impact statements.
SAN JOSE -- As the weeks countdown to the sentencing of Elizabeth Holmes and Ramesh"Sunny" Balwani in the notorious Silicon Valley Theranos fraud case, federal prosecutors have issued a public plea and set up an online form for victim impact statements.
On January 3, Holmes was convicted on four counts of investor fraud and conspiracy. During that trial, Holmes tearfully accused Balwani of sexually emotionally abusing her while they were lovers. An attorney for Balwani has vehemently denied those charges. Both are currently free on bond pending sentencing, They will be facing prison terms of up to 20 years and large fines.
For example, the defendants represented to investors that Theranos conducted its patients' tests using Theranos-manufactured analyzers; when, in truth, Holmes and Balwani knew that Theranos purchased and used for patient testing third party, commercially available analyzers.
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