Prosecutors have portrayed Sunny Balwani as a ruthless accomplice who helped Holmes swindle investors. At one point, they charged, Balwani oversaw the Theranos lab that covered up serious flaws in …
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.
Before that fissure, Balwani put up $15 million of his own money to help bolster Theranos when Holmes brought him on board as her top lieutenant while they were clandestinely living together. Balwani’s Theranos investment eventually became worth about $500 million on paper — a stake that his lawyers told jurors he never sold. It became worthless when the company collapsed.
Holmes’ bold claims for Theranos helped make her a Silicon Valley star — a rich one, too, with a paper fortune of $4.5 billion based on the company’s success in fundraising and brokering business deals based on Holmes’ promise that Theranos would revolutionize health care. Holmes boasted the company had developed a technology that could scan for more than 200 potential health problems with a few drops of blood taken with a finger prick.
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