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 MoreIn this special episode released during International Fraud Awareness Week, Chris Ekimoff, CFE, CPA/CFF, director of financial investigations and dispute services at RSM and co-host of the inSecurities podcast, and Mandy Moody, CFE, ACFE communications manager, discuss the latest and greatest highlights from the trial of former Theranos CEO Elizabeth Holmes. Chris and Mandy provide background and analysis on the many facets of the Theranos tale, review the implications of the previously-settled matter with the SEC in 2017 and discuss common issues with the legal system regarding allegations of fraud.
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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