CA: Corporations In California
(AP)-A jury on Tuesday is scheduled to hear closing arguments in the trial of Ramesh “Sunny” Balwani, the former Theranos official charged with teaming up with his secret lover, CEO Elizabeth Holmes, to carry out a massive fraud. The three month of testimony and evidence mirrored the case against Holmes in a separate trial last year. Holmes was convicted on four counts of defrauding investors and acquitted on four counts alleging she had also deceived patients who submitted to Theranos blood tests. She is free on $500,000 bail but faces a potential prison sentence of up to 20 years. Balwani faces the same punishment if convicted.
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