By Adam Lashinsky
July 8, 2022
There was something more than a bit unsatisfying about the split-decision verdict last January in the trial of Elizabeth Holmes. Sure, she was convicted in federal court on four fraud-related counts, each related to bilking investors. And yes, she likely faces considerable jail time when she is sentenced this fall. But jurors also acquitted her on four counts related to defrauding doctors and patients. And they couldn't agree on three charges that she swindled venture capitalists who invested early on in Theranos, the failed blood testing company Holmes founded as a teenager.
In contrast, the verdict on Thursday was downright resounding for Ramesh "Sunny" Balwani, her co-conspirator, ex-boyfriend, and former president of Theranos: guilty on all 12 counts. The jury needed only five days — considerably less time than the Holmes jury — to reach their unanimous finding.
To be fair, Balwani was doomed almost from the moment Holmes was convicted, if not sooner.
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