Ramesh “Sunny” Balwani is a former executive from Pakistan. He was the president and chief operating officer of Theranos, a privately held health technology firm that made false promises about developing a novel blood test technique that requires only a little quantity of sample.
Balwani, a Pakistani national, immigrated to the United States in 1986 and attended the University of Texas in Austin. After receiving his undergraduate degree, he spent several years in the technology industry, co-founding the software development business CommerceBid.com.
He returned to school in the early 2000s to get an M.B.A. from the University of California, Berkeley.
Elizabeth Holmes, his future fiancée, and partner met him there. Holmes launched Theranos in 2003, and Balwani joined the business as COO and president in 2009. In 2015, the firm came under fire for making unfounded promises and engaging in questionable activities.
Balwani was charged with four breaches of the US Securities Act by the Securities and Exchange Commission in March 2018. Three months later, he and Holmes were charged by US federal authorities on charges of fraud and conspiracy.
What happened to Ramesh Balwani?
Balwani, 57, was found guilty on 12 counts of fraud and conspiracy in July after convincing investors and patients to trust the company’s faulty blood testing devices.
How was Ramesh Balwani been sentenced?
Balwani was found guilty on all counts on July 7, 2022, and faces up to 20 years in prison and millions of dollars in restitution. He is currently awaiting sentencing, which is scheduled for December 7, 2022.
