Former president sentenced to 12 years and 11 months in Theranos scandal

spokesman for the US attorney's office said that Ramesh Balwani, who served as the company's chairman, was sentenced to 12 years and 11 months in prison for defrauding investors and patients in what has been called one of the country's largest fraud cases in history. A spokesman for the US attorney's office confirmed that a US judge on Wednesday sentenced former Theranos Chairman Ramesh "Sunny" Balwani to 12 years and 11 months in prison for defrauding investors and patients related to the health-testing startup led by Elizabeth Holmes. US District Judge Edward Davila in San Jose, California, sentenced Balwani, who was convicted by a jury in July on two counts of conspiracy and 10 counts of fraud. Prosecutors alleged that Balwani, 57, conspired with Holmes, 38, to deceive Silicon Valley investors into believing that the company had built miniature machines that could accurately run a wide range of medical diagnostic tests from small amounts of blood.