Holmes’ former partner gets nearly 13 years in Theranos case
ap photo Ramesh “Sunny” Balwani, right, the former lover and business partner of Theranos CEO Elizabeth Holmes, walks into federal court in San Jose, Calif., on June 24. Balwani learns Wednesday, Dec. 7, 2022, whether he will be punished as severely as Holmes for peddling the company’s bogus blood-testing technology that duped investors and endangered patients.
SAN JOSE, Calif. — Former Theranos executive Ramesh “Sunny” Balwani was sentenced Wednesday to nearly 13 years in prison for his role in the company’s blood-testing hoax — a sentence slightly longer than that given to the CEO, who was his lover and accomplice in one of Silicon Valley’s biggest scandals.
Balwani was convicted in July of fraud and conspiracy connected to the company’s bogus medical technology that duped investors and endangered patients. His sentencing came less than three weeks after Elizabeth Holmes, the company’s founder and CEO, received more than 11 years in prison for her part in the scheme, which has been dissected in a book, HBO documentary and award-winning TV series.
Balwani’s sentence was less than the 15 years sought by federal prosecutors, who depicted him as a ruthless, power-hungry figure. But it is substantially longer than the four to 10 months sought by his lawyers.
The scandal revolved around the company’s false claims to have developed a device that could scan for hundreds of diseases and other potential problems with just a few drops of blood taken with a finger prick.
After years of promoting the technology, Holmes and Balwani were warned that the blood tests were inaccurate, but they continued to raise money from investors, including from billionaires such as software magnate Larry Ellison and media magnate Rupert Murdoch, and deployed the technology in some Walgreens stores.
U.S. District Judge Edward Davila said the financial statements drawn up by Balwani “weren’t just projections, they were lies” and “a true flight from honest business practices.”
The case threw a bright light on Silicon Valley’s dark side, exposing how its culture of hype and boundless ambition could veer into lies.
Both Holmes, 38, and Balwani, 57, could have gotten up to 20 years in prison. Balwani spent six years as Theranos’ chief operating officer while remaining romantically involved with Holmes until a bitter split in 2016.
Former federal prosecutor Amanda Kramer said the harsher sentence seemed appropriate, given that the jury in Balwani’s trial convicted him on every count while jurors in Holmes’ separate case acquitted her on some charges and deadlocked on others.
“It’s not surprising that he got a more severe sentence because his misconduct was was more severe,” Kramer said.
While on the witness stand in her trial, Holmes accused Balwani of manipulating her through years of emotional and sexual abuse. Balwani’s attorney has denied the allegations.
Federal prosecutors also want the judge to order Balwani to pay $804 million in restitution to defrauded investors — the same amount sought from Holmes. Davila deferred a decision on restitution to a later hearing, just as he did during Holmes’ Nov. 18 sentencing, when she received 11 1/4 years in prison.
In court documents, Balwani’s lawyers painted him as a hardworking immigrant who moved from India to the U.S. during the 1980s to become the first member of his family to attend college. He graduated from the University of Texas in 1990 with a degree in information systems.
He later moved to Silicon Valley, where he first worked as a computer programmer for Microsoft before founding an online startup that he sold for millions of dollars during the dot-com boom of the 1990s.

