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A US jury on Thursday convicted former Theranos president Ramesh “Sunny” Balwani of defrauding investors and patients about the blood testing startup that was once valued at $9 billion (€8.9 billion).
Balwani was convicted on two counts of conspiracy and 10 counts of fraud, a spokesman for the US attorney’s office confirmed.
The jury in San Jose, California, handed down its verdict after deliberating for a little more than five days.
Theranos founder Elizabeth Holmes, who initially faced the same charges, was convicted on three counts of fraud and one count of conspiracy at a separate trial in January.
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Balwani and Holmes were charged in 2018 with lying to investors about the company’s finances and its machines’ ability to run a broad range of tests from a few drops of blood. Prosecutors also charged the pair with duping patients about the tests’ accuracy. — Reuters
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