Trial of Elizabeth Holmes’ partner, ex-lover nears climax

On Tuesday, a jury will hear the closing arguments in the trial against Ramesh “Sunny,” Balwani, a former Theranos official, who is accused of conspiring with Elizabeth Holmes, his secret lover, to commit a huge fraud.

The three-month-long period of testimony and evidence was similar to Holmes’s case in a separate trial last summer. Holmes was convicted of four counts defrauding investors. She was also acquitted of four counts alleging that she had deceived patients who had submitted to Theranos blood testing. She is currently released on $500,000 bail, but could be sentenced to up to 20 years in prison. If Balwani is convicted she will face the same sentence.

Holmes, 38, awaits sentencing in September.

Lawyers for Balwani (57) have described him as a well-intentioned investor, entrepreneur, who became Theranos chief operating officer in 2010, and was then swept into the fray. scamHolmes. In 2016, her relationship with Holmes ended and she was no longer with him.

Balwani contributed $15 million of his personal money to Theranos in order to support Holmes’ top lieutenant position. Balwani’s Theranos investment eventually amounted to about $500 million on paper. His lawyers said that he never sold the stake. It was worthless after the company collapsed.

Prosecutors meanwhile have painted Balwani, who they say was a complicit in Holmes’s scheme to rob investors, as a ruthless accomplice. They alleged that Balwani was in charge of Theranos’ blood-testing technology, which could have endangered the lives and health of patients.

Holmes’ bold claims about Theranos made her a Silicon Valley star. She was also a wealthy one with a paper fortune worth $4.5 billion. This was based on Theranos’ success in fundraising and brokering business deals. Holmes promised that Theranos would revolutionize healthcare. Holmes claimed that the company had developed technology that could scan for over 200 possible health problems using just a few drops blood.

Balwani started dating Holmes at the same time that she founded Theranos. She then began giving her business advice based on his previous success, which included selling a technology startup that made Holmes rich. Their relationship was the focal point of “The Dropout,” a Hulu TV series about Holmes’ rise and fall. It was released just before the trial began, making it difficult to select an impartial jury.

Holmes testified at her trial and at one point, she cried out that Balwani was a controlling figure in her life and had subjected her sexual and emotional abuse. During Holmes’ trial, Balwani’s other attorney vigorously denied these allegations. Balwani’s attorneys have urged jurors at the current trial not to consider any previous allegations. readHolmes’ claims were made public.

There was speculation that Holmes might testify against Balwani in court, but that never happened. Balwani chose to not testify against himself during his trial, unlike Holmes.