Federal prosecutors are calling for ex-Theranos executive Ramesh 'Sunny' Balwani to spend 15 years behind bars for defrauding investors out of millions.
FOX Business host Cheryl Casone has the latest on Sunny Balwani being found guilty of 12 counts of fraud for a Theranos scam on 'The Claman Countdown.'
Federal prosecutors say former Theranos executive Ramesh "Sunny" Balwani deserves 15 years in prison for scamming investors out of hundreds of millions of dollars with false promises about the blood-testing startup's failed technology. 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."
Sunny Balwani, former president of Theranos Inc., exits federal court in San Jose, Calif., July 7, 2022. Balwani was found guilty of all charges against him for his role in the collapse of the $9 billion blood-testing startup Theranos. 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.
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U.S. urges 15-year sentence for ex-Theranos president BalwaniU.S. prosecutors have asked a judge to sentence former Theranos Inc President Ramesh 'Sunny' Balwani to 15 years in prison for defrauding investors and patients in the blood-testing startup once led by Elizabeth Holmes.
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