Ramesh Sunny Balwani, the former President and COO of a start-up Theranos was sentenced to 12 years and 9 months behind bars on Wednesday, December 7, 2022, know his net worth and education
The 57-year-old businessman was found guilty for 12 counts of Wire Fraud and Conspiracy to commit wire fraud and his role in the failed blood-testing start-up.
For those who are unfamiliar with the situation, let us tell you, the Chief Operating Officer of Theranos, falsely claimed that their company’s product could diagnose any illnesses with a few drops of blood with a finger prick.
Ramesh Sunny Balwani Age, Family, Wife, Education, Net Worth Now In 2022, Jail Verdict News
Theranos COO Sunny Balwani was sentenced to nearly 14 years in prison
Founder and CEO Elizabeth Holmes was sentenced to 11 years last month.
Do you think these sentences are about right? pic.twitter.com/Py0CR5QvmO
— Genevieve Roch-Decter, CFA (@GRDecter) December 7, 2022
The sentencing of the former businessman came less than 3 weeks after his alleged girlfriend and Founder of Theranos, Elizabeth Holmes was convicted and sentenced to 11 years and 3 months in prison.
As per a report by NBC news, the Prosecutor in the case revealed that the businessman conspired with Holmes, with whom he was romantically linked to deceive investors of Silicon Valley.
Whereas the US District Court Judge, Edward Davila stated during Balwani’s sentencing, “They misled investors, they misled patients,” in San Jose, California.
For those who are unversed, let us tell you, the Fraudulent company Theranos was once valued at around $9 billion.
Who is Ramesh ‘Sunny’ Balwani,
For those who are unfamiliar with Balwani, let us tell you, the convicted businessman was born in Sindh, Pakistan in 1965 in a middle class Sindhi Hindu family.
The fraudster had completed his studies from a prestigious boarding school in Lahore. Eventually their family moved back to India and later migrated to the United States.
After moving to the US, Balwani went to attend the University of Texas at Austin as an International Student and became a member of Pakistani Students Association.
In the 1990s, he started working for a software company, Lotus software. After a while he moved to work with Microsoft as a sales representative.
During his time at Microsoft he met a Japanese artist Keiko Fujimoto, with whom he ended up getting married.
However, their relationship didn’t last long as Balwani and Fujimoto went their separate ways after spending 20 years together.
Net Worth
As per multiple reports, Balwani’s net worth is estimated to be somewhat around $85 million in 2022. However, his net worth figure can’t be verified independently.
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