News and analysis on the global fight against fraud
On Thursday, a jury of seven women and five men convicted Ramesh “Sunny” Balwani on 12 counts of federal fraud. Balwani, the former COO of Theranos, reportedly sat expressionless as the verdicts were read in court. Some of the charges Balwani was found guilty of included federal wire fraud and conspiracy to commit federal wire fraud.
Read MoreAfter seven days of deliberations, a jury in California found Theranos founder Elizabeth Holmes guilty on four out of 11 federal fraud charges on January 3, 2022; nearly four years after Holmes and Theranos agreed with the U.S. Securities and Exchange Commission (SEC) to settle civil charges of securities fraud. Each charge carries a maximum prison sentence of 20 years.
Read MoreThe Securities and Exchange Commission (SEC) charged Theranos, a Silicon Valley company founded on supposedly revolutionary, portable blood testing technology, its founder and CEO Elizabeth Holmes, and its former President Ramesh Balwani with fraud this week related to false statements and representations made while raising more than $700 million from investors.
Read MoreNews and analysis on the global fight against fraud.
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