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☆ Elizabeth Holmes' ex-partner Sunny Balwani has already had 2 years taken off his prison sentence
▼ + stars: | 2023-06-06 | by ( Jennifer Cunningham | ) www.businessinsider.com time to read: +2 min

Former Theranos exec Ramesh "Sunny" Balwani has had around two years shaved off of his federal prison sentence. He reported to prison in April for a nearly 13-year sentence, but his new release date is in 2034. Ramesh "Sunny" Balwani, Elizabeth Holmes' ex-boyfriend and the number 2 in charge at failed blood testing startup Theranos, has had some time shaved off of his nearly 13-year sentence for fraud and conspiracy, Insider has learned. But federal prison officials have reduced Balwani's sentence. In April, Balwani reported to prison at Terminal Island FCI, a minimum security federal facility just outside of Los Angeles.

Persons: Ramesh, Sunny, Balwani, Elizabeth Holmes, Theranos, Holmes, Rupert Murdoch, Insider's Sarah Jackson, Stephen Cazares Organizations: US Bureau of Prisons Locations: Los Angeles

☆ Take a look at the first prison yard photo snapped of Elizabeth Holmes after she started her 11-year sentence in Texas
▼ + stars: | 2023-06-05 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +2 min

Disgraced former Theranos CEO Elizabeth Holmes was photographed for the first time in prison. Holmes was seen with her hair loose, bespectacled, and wearing drab khakis in the prison in Bryan, Texas. Former Theranos CEO Elizabeth Holmes has been photographed for the first time since she began her 11-year prison sentence. —New York Post (@nypost) June 3, 2023On May 30, Holmes reported to the Federal Prison Camp in Bryan, Texas, which is a minimum-security women's prison. Holmes' representative did not immediately respond to Insider's request for comment sent outside of regular business hours.

Persons: Elizabeth Holmes, Holmes, Ramesh, Sunny Organizations: Daily Mail, York, Federal Locations: Bryan , Texas, —

☆ These rich and famous people got burned by investing hundreds of millions in Elizabeth Holmes' Theranos
▼ + stars: | 2023-06-04 | by ( Ryan Hogg | Sarah Jackson | ) www.businessinsider.com time to read: +4 min

Here are some who got burned by Theranos, from the Walton family to Rupert Murdoch. Rupert Murdoch invested $125 million in Theranos. Julio Cortez/APThe DeVos familyThe DeVos family, who are heirs to the Amway empire and includes former US Secretary of Education Betsy DeVos, poured $100 million into Theranos. Joshua Roberts/ReutersThe Cox familyTheranos also got $100 million from the Atlanta-based billionaire Cox family, which owns the media and automotive company Cox Enterprises. The Cox family was the eight-wealthiest in the US as of 2020, with a net worth of $34.5 billion at the time, according to Forbes.

Persons: Elizabeth Holmes, Theranos, Walton, Rupert Murdoch, Holmes, Ramesh, Sunny, Balwani, Forbes —, Murdoch, Julio Cortez, Betsy DeVos, they're, Joshua Roberts, Cox, Carlos Slim Carlos Slim, América, Andreas Dracopoulos, Stavros Niarchos, Robert Kraft, It's, Kraft, Tom Brady, Matt Slocum, Alan Eisenman Alan Eisenman, Eisenman Organizations: Morning, Wall Street, Walmart, Forbes, Rupert Murdoch Media, Street, Amway, Cox Enterprises, Stavros Niarchos Foundation, Robert Kraft New England Patriots, Bloomberg, New England Patriots, CBS Locations: Theranos, Atlanta, Latin America, Mexico, FTX

☆ Amanda Seyfried, who played Elizabeth Holmes in 'The Dropout,' says the Theranos founder's 11-year prison sentence is 'fair,' but she sympathizes for Holmes' kids
▼ + stars: | 2023-05-31 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +2 min

Amanda Seyfried, who played Elizabeth Holmes in "The Dropout," says Holmes' 11-year prison sentence is "fair." Holmes reported to a women's prison in Bryan, Texas, on Tuesday to start serving her sentence. Amanda Seyfried has weighed in on Elizabeth Holmes' prison sentence after portraying the disgraced Theranos founder in the Hulu miniseries "The Dropout." Seyfried appeared on "Good Morning America" on Tuesday, the day Holmes reported to a minimum-security women's prison in Bryan, Texas, to begin serving her 11-year sentence. But she added that she thought Holmes' sentence — 11.25 years in prison with three years of supervision following her release — was "fair."

Persons: Amanda Seyfried, Elizabeth Holmes, Holmes, Seyfried, sympathizes, William, Billy, Evans, —, Naveen Andrews, Ramesh, Sunny, Balwani, Theranos, Elizabeth Organizations: Hulu, Globe, Los Angeles Times Locations: Bryan , Texas

☆ Theranos founder Elizabeth Holmes reports to prison to begin sentence
▼ + stars: | 2023-05-30 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

Theranos founder Elizabeth Holmes arrives to begin serving her prison sentence for defrauding investors in the failed blood-testing startup, at the Federal Prison Camp in Bryan, Texas, May 30, 2023. Disgraced Theranos CEO Elizabeth Holmes reported to prison Tuesday to begin her more than 11-year sentence for defrauding investors about the capabilities of her company's blood-testing technology. The ruling followed a day after an appeals court rejected Holmes' bid to stay out of prison while she appeals her conviction. A federal jury in San Jose, California, convicted Holmes on four counts of defrauding investors in Theranos, the company she dropped out of Stanford University to found in 2003. Balwani was convicted on 12 counts of wire fraud and conspiracy to commit wire fraud.

☆ Theranos founder Elizabeth Holmes just reported to a Texas prison to begin serving her 11-year sentence
▼ + stars: | 2023-05-30 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +4 min

Elizabeth Holmes reported to a Texas prison Tuesday to begin serving her sentence of more than 11 years. The Theranos founder was convicted on four counts of fraud and conspiracy last year. Eight years after infamous blood-testing startup Theranos began to implode, its founder, Elizabeth Holmes, is now in prison. On Tuesday afternoon, Holmes reported to a minimum-security women's prison in Bryan, Texas, about 100 miles from Houston, where she grew up, to begin serving her sentence of 11.25 years, with an additional three years of supervised release. Balwani reported to a California prison in April to begin his nearly 13-year sentence.

☆ Elizabeth Holmes set to report to prison
▼ + stars: | 2023-05-30 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +3 min

CNN —Elizabeth Holmes is set to report to prison on Tuesday, capping off a stunning downfall for the disgraced founder of failed blood testing startup Theranos. Holmes was sentenced to more than 11 years in prison last November, after she was convicted months earlier on multiple charges of defrauding investors while running the now-defunct startup. Holmes was once an icon in the tech world, serving as a posterchild for the limitless ambitions and potential of Silicon Valley. Holmes and Balwani were first indicted together nearly five years ago on the same 12 criminal charges. This month, Davila ordered Holmes and Balwani to pay restitution of roughly $452 million to victims of their crimes.

☆ Elizabeth Holmes Reports to Prison to Begin More Than 11-Year Sentence
▼ + stars: | 2023-05-30 | by ( Erin Griffith | ) www.nytimes.com time to read: +1 min

Ms. Holmes has appealed her case, though her requests to remain out of prison during the appeal have been denied. Ms. Holmes founded Theranos in 2003 after dropping out of Stanford University at age 19. Ms. Holmes and Mr. Balwani were indicted that year. Mr. Balwani was convicted on 12 counts of fraud and is serving a nearly 13-year sentence in a federal prison in San Pedro, Calif. Since her conviction, Ms. Holmes has been living in a rental home in San Diego near the family of Billy Evans, who is the father of her two children.

☆ Theranos founder Elizabeth Holmes is set to report to prison. Here's a timeline of her relationship with her co-defendant and ex-boyfriend, Sunny Balwani.
▼ + stars: | 2023-05-30 | by ( Elana Klein | ) www.businessinsider.com time to read: +2 min

In 2002, Elizabeth Holmes, then 18, met Sunny Balwani, then 37, in Beijing, China. Balwani became her long-term boyfriend and, later, the COO of her startup, Theranos. Holmes is set to report to prison Tuesday. Elizabeth Holmes and Ramesh "Sunny" Balwani engaged in a years-long workplace relationship that ended when he left their company, Theranos, in 2016. However, Holmes is expected to report to prison on Tuesday to finally begin her sentence.

☆ Modi inaugurates controversial new parliament building in India
▼ + stars: | 2023-05-26 | by ( Rhea Mogul | ) edition.cnn.com time to read: +9 min

A cyclist rides past the construction site for the new Parliament building in January 2021. Controversial projectThe new triangular parliament building is part of a major overhaul of New Delhi’s colonial-era administrative center dubbed the Central Vista Redevelopment Project. The rush was widely thought to have resulted from hopes of opening the parliament building by the 75th anniversary of Indian independence in August 2022. Capacity is also limited — a concern magnified by growing calls to increase the number of MPs sitting in India’s parliament. A photo of the parliament's interior taken during a visit to the building by Modi earlier this year.

☆ Google just revealed what its new generative AI ads will look like as it races to keep up with Microsoft and Amazon in the AI gold rush
▼ + stars: | 2023-05-23 | by ( Ryan Joe | ) www.businessinsider.com time to read: +6 min

Google is introducing generative AI to its adtech products as it races against Amazon and Microsoft. Revenues from generative AI software will surge to $81 billion by 2027, per a TD Cowen report. The value of generative AI software is primed to explode, and a recent TD Cowen report projected that generative AI software revenues will surge to $81 billion by 2027, from under $1 billion in 2022. Google's generative AI can automatically create image variants GoogleGoogle had previously said at its I/O conference that there would be new search formats from generative AI. Dischler said the move to bring generative AI, which automatically creates content, to Google's ad products was the natural next step of Google's AI evolution.

☆ Elizabeth Holmes Must Report to Prison on May 30 and Pay Restitution
▼ + stars: | 2023-05-18 | by ( Lora Kelley | ) www.nytimes.com time to read: +1 min

The LatestElizabeth Holmes, the disgraced founder of the failed blood testing start-up Theranos, who was convicted last year on charges that she defrauded investors of more than $100 million, has lost her latest bid to stay out of prison while she appeals her conviction. Ms. Holmes, whose case cast a harsh light on Silicon Valley’s culture of hubris, must report to prison on May 30, a judge ruled after the U.S. Court of Appeals for the Ninth Circuit rejected her attempt on Tuesday to remain free on bail. Ms. Holmes and her top lieutenant at Theranos, Ramesh Balwani, who was found guilty of fraud in a separate trial and who began serving his prison sentence last month, were also ordered to pay $452 million in restitution to victims of the company’s fraud. Of that total, the judge, Edward J. Davila of the U.S. District Court for the Northern District of California, who oversaw both trials, determined that Ms. Holmes and Mr. Balwani should pay $125 million to the media mogul Rupert Murdoch, who invested in Theranos. Walgreens and Safeway, which had entered into business deals with the company, were also identified as victims for the purposes of restitution.

[1/2] Theranos founder Elizabeth Holmes arrives at the federal courthouse accompanied by her partner Billy Evans, to ask a U.S. judge at a hearing to pause her prison sentence of more than 11 years while... Read moreCompanies Theranos Inc FollowMay 17 (Reuters) - Theranos founder Elizabeth Holmes will begin serving her prison sentence on May 30 for defrauding investors in the failed blood-testing startup once valued at $9 billion. U.S. District Judge Edward Davila set the date on Wednesday for Holmes, 39, to begin serving 11 years and three months in prison. Holmes rose to fame after claiming Theranos' small machines could run an array of diagnostic tests with just a few drops of blood. Prosecutors said during the trial that Holmes misrepresented Theranos' technology and finances. Holmes' co-defendant, former Theranos President Ramesh "Sunny" Balwani, was convicted of defrauding Theranos investors and patients at a separate trial and sentenced to 12 years and 11 months in prison.

☆ It's official — Elizabeth Holmes has been ordered to report to prison on May 30 to begin her 11-year sentence
▼ + stars: | 2023-05-17 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

Elizabeth Holmes is now scheduled to report to prison May 30 to begin serving her 11-year sentence. The disgraced Theranos founder must head to prison on May 30 to begin serving her more than 11-year sentence, a judge ordered Wednesday. She was originally scheduled to report to prison on April 27 but was able to delay the start of her sentence. The judge in her case, Judge Edward J. Davila, signed off on the requested date, ordering that Holmes report to prison no later than 2 p.m. on May 30. Besides their prison sentences, Holmes and Balwani have also been ordered to pay $452 million in restitution to victims of their fraud and conspiracy at Theranos.

Under the restitution order made by Judge Edward Davila in San Jose, California, who also oversaw Holmes' trial and sentencing, both Holmes and Balwani are equally responsible for the full amount. Davila rejected their argument that intervening events contributed to Theranos investors’ losses. The denial of bail on Tuesday means Davila will now set a new date for her to go to prison. During the trial, Holmes testified in her own defense, saying she believed her statements were accurate at the time. Theranos, once valued at $9 billion, collapsed after a series of Wall Street Journal articles in 2015 questioned its technology.

☆ Elizabeth Holmes and her ex-boyfriend and Theranos business partner have to pay $452 million in restitution, including $125 million to Rupert Murdoch
▼ + stars: | 2023-05-17 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +2 min

Elizabeth Holmes and Sunny Balwani, her ex and former business partner, have been ordered to pay $452 million in restitution. Payments include $125 million to Rupert Murdoch, his full investment in Theranos, and $40 million to Walgreens. Elizabeth Holmes has been ordered to pay a hefty sum in restitution to victims of Theranos' fraud. The biggest amount by far is earmarked for media mogul Rupert Murdoch, who will get back the full amount he poured into Theranos, $125 million. Besides the restitution, Holmes and Balwani will serve time in prison.

☆ Elizabeth Holmes loses bid to avoid prison
▼ + stars: | 2023-05-17 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +2 min

CNN —Elizabeth Holmes’ last-minute bid to avoid prison was denied by an appellate court on Tuesday, paving the way for the disgraced Theranos founder to begin her sentence. In a separate ruling Tuesday, Holmes was also ordered to pay $452 million in restitution to those harmed by her crimes, including Theranos investors like media titan Rupert Murdoch. Holmes was previously ordered to turn herself into custody and begin her 11-year prison sentence on April 27 after being convicted on multiple counts of defrauding investors last January. A new prison surrender date for Holmes has not yet been set. He reported to prison last month to being serving out his nearly 13-year sentence, after losing a last-minute appeal similar to Holmes.

☆ Disgraced Theranos CEO Elizabeth Holmes must report to prison May 30
▼ + stars: | 2023-05-17 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

Former Theranos CEO Elizabeth Holmes (C) arrives at federal court with her partner Billy Evans (R) and mother Noel Holmes on November 18, 2022 in San Jose, California. Elizabeth Holmes, the disgraced CEO of Theranos, must report to prison May 30, according to a ruling issued Wednesday by U.S. District Judge Edward Davila. On Tuesday, an appeals court rejected Holmes' bid to stay out of prison while she appeals her conviction. In another ruling Tuesday, Davila ordered that Holmes and former Theranos executive Ramesh "Sunny" Balwani pay $452 million in restitution to victims. Balwani was sentenced to nearly 13 years in prison in July, after being convicted of 12 counts of fraud, and began his sentence in April.

☆ Our Middle East business has been 'very stable,' Indian jewelry company says
▼ + stars: | 2023-05-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOur Middle East business has been 'very stable,' Indian jewelry company saysRamesh Kalyanaraman of Kalyan Jewellers discusses its expansion in the Middle East and the business' performance there.

☆ Theranos founder Elizabeth Holmes is awaiting her 11-year prison sentence. Here's a timeline of her relationship with her co-defendent and ex-boyfriend, Sunny Balwani.
▼ + stars: | 2023-05-15 | by ( Elana Klein | ) www.businessinsider.com time to read: +1 min

In 2002, Elizabeth Holmes, then 18, met Sunny Balwani, then 37, in Beijing, China. Balwani became her long-term boyfriend and, later, the COO of her startup, Theranos. Both were sentenced to more than a decade behind bars — Balwani reported to prison in April. Elizabeth Holmes and Ramesh "Sunny" Balwani engaged in a years-long workplace relationship that ended when he left their company, Theranos, in 2016. She was scheduled to report for her sentence in April, but it was delayed by appeals to her conviction.

☆ Opinion | Trump’s Lesson for the Media and Ron DeSantis
▼ + stars: | 2023-05-13 | by ( Ross Douthat | ) www.nytimes.com time to read: +2 min

Two groups can learn something from the experience: first, network producers and executives thinking about how to conduct interviews and host debates with Trump; second, rival Republican presidential candidates trying to envision a path to beating him. What the TV professionals should learn is that they have two choices in dealing with another Trump primary campaign. In part, as Ramesh Ponnuru suggests, that means drilling into Trump’s presidential record on conservative terms rather than liberal ones — asking about, for instance, the failure to complete the border wall or the surge in crime in the last year of his administration. The utility of this last line of questioning is also something that Trump’s prospective rivals, Ron DeSantis especially, can draw out of the CNN experience, since they can tee up those kinds of conservative-friendly challenges if the media does not. But the most basic lesson to be drawn by Republican politicians from watching Trump’s town hall is the importance, for any would-be Trumpian successor, of demonstrating that you too can engage with the mainstream press and come away a winner.

☆ Secular inflation has run across industries and we aren't immune, says pharmaceutical company
▼ + stars: | 2023-05-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSecular inflation has run across industries and we aren't immune, says pharmaceutical companyRamesh Swaminathan of Lupin discusses the company's quarterly results and says "gross margins could have been better but for this inflation factor."

☆ India's Mankind Pharma soars 31%, valuing condom maker at almost $7 bln
▼ + stars: | 2023-05-09 | by ( Rama Venkat | ) www.reuters.com time to read: +2 min

BENGALURU, May 9 (Reuters) - Shares of Manforce condom maker Mankind Pharma Ltd (MNKI.NS) surged as much as 31% in debut trading on Tuesday, valuing the company at 566.43 billion rupees ($6.93 billion) in the country's biggest listing so far this year. The company, which also owns India's top at-home pregnancy testing kit Prega News, opened at 1,300 rupees, staying above that mark through the morning session and hitting its highest at 1,414 rupees. It was seeking a valuation of 432.64 billion rupees ($5.29 billion) at the upper end of a price band it set for its initial public offering last month. The strong debut will likely lift the sentiment for the IPO market overall." The company's IPO had an offer for sale of shares worth 43.26 billion rupees from existing shareholders, including its founder Ramesh Juneja, and allocated 12.98 billion rupees worth of shares to 77 anchor investors including Canada Pension Plan Investment Board, Government of Singapore, Goldman Sachs and Abu Dhabi Investment Authority.

☆ Elizabeth Holmes went to Burning Man, torched an effigy for Theranos, then spent 6 months living in an RV while prosecutors built a case against her for fraudulent business practices
▼ + stars: | 2023-05-08 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

In her first interview since 2016, Elizabeth Holmes told NYT her perspective on her fraudulent business. Once the company dissolved, she burned an effigy for Theranos, then lived in an RV for six months. Holmes spoke to The New York Times about her looming prison term in her first interview since 2016. At Burning Man, Holmes told the outlet she and her partner Billy Evans torched an effigy for the failed business and, as prosecutors began building their case against her, embarked on six months of traveling the country by RV. "Even though that period was a crisis and Theranos was my life and like my child, I gave everything I had to it," Holmes told The New York Times.

☆ Elizabeth Holmes has given a series of bizarre interviews to the NYT as she delays starting her 11-year prison sentence
▼ + stars: | 2023-05-07 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +4 min

Convicted fraudster Elizabeth Holmes has given a series of pre-prison interviews to the New York Times. Disgraced Theranos founder Elizabeth Holmes has given an extensive series of interviews to the New York Times, published days after she managed to delay the start of her 11-year prison sentence. Holmes was convicted of four counts of fraud and conspiracy in January 2022 and was handed an 11-year prison sentence. Holmes didn't press charges. Representatives for Holmes didn't immediately respond to a request for comment from Insider.

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