U.S. seeking 15-year sentence for former Theranos president Sunny Balwani
Elizabeth Holmes' top deputy was found guilty on 12 counts of fraud in June
FOX Business host Cheryl Casone has the latest on Sunny Balwani being found guilty of 12 counts of fraud for a Theranos scam on 'The Claman Countdown.'
Federal prosecutors say former Theranos executive Ramesh "Sunny" Balwani deserves 15 years in prison for scamming investors out of hundreds of millions of dollars with false promises about the blood-testing startup's failed technology.
The government argued in a court filing this week that 180 months behind bars "would reflect the seriousness of the offenses, promote respect for the law, provide for just punishment for the offenses, and deter Balwani and others."
Sunny Balwani, former president of Theranos Inc., exits federal court in San Jose, Calif., July 7, 2022. Balwani was found guilty of all charges against him for his role in the collapse of the $9 billion blood-testing startup Theranos. (David Paul Morris/Bloomberg via Getty Images / Getty Images)
Balwani's attorneys, in turn, are asking for leniency from the judge. The defense team argued in its own brief that Balwani should only receive probation, and if he is sentenced to serve any time at all it should be on home confinement.
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That prospect appears unlikely given that Balwani's co-defendant, Theranos founder and former CEO Elizabeth Holmes, was recently sentenced to more than 11 years in federal detention for far fewer charges.
Former Theranos CEO Elizabeth Holmes arrives at federal court with her partner Billy Evans Nov. 18, 2022, in San Jose, Calif. (Justin Sullivan/Getty Images / Getty Images)
Holmes was convicted in January of one charge of conspiracy and three charges of fraud for her role in the scam. She was originally accused of 11 charges, acquitted of four, and a jury could not reach a verdict on three of them.
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Balwani was found guilty in June on all 12 criminal fraud charges against him.
Judge Edward Davila oversaw both Holmes' and Balwani's trials, denied both defendants' requests for new trials and sentenced Holmes last month to 135 months, or 11¼ years in prison.
Courtroom drawing of Elizabeth Holmes during her sentencing hearing Nov. 18, 2022. (Vicki Behringer 11/18/22)
Prosecutors had also recommended a 15-year sentence for Holmes, while her lawyers requested she serve a maximum of 18 months behind bars, if any time at all.
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The same judge will hand down Balwani's fate at his sentencing hearing Dec. 7. The former Theranos president faces up to 20 years in prison.