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☆ Theranos Ex-Operating Chief Sunny Balwani Sentenced to Nearly 13 Years in Prison
▼ + stars: | 2022-12-07 | by ( Heather Somerville | Christopher Weaver | ) www.wsj.com time to read: 1 min

SAN JOSE, Calif.—Theranos Inc.’s former No. 2 executive, Ramesh “Sunny” Balwani, was sentenced to nearly 13 years in prison for his involvement in an elaborate fraud scheme at the blood-testing company, marking the capstone of a yearslong saga that is a blemish in Silicon Valley history. Mr. Balwani’s sentencing comes more than four years after the collapse of Theranos, which promised to revolutionize healthcare but peddled faulty technology to patients and investors, along the way delivering inaccurate health results and squandering hundreds of millions of dollars. Mr. Balwani helped lead the deception as Theranos’s former president and chief operating officer, and along with his longtime romantic partner, he became the focus of one of the highest-profile white-collar cases in recent years.

☆ Former Theranos president Balwani awaits sentencing, government wants 15 years
▼ + stars: | 2022-12-07 | 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 EmailFormer Theranos president Balwani awaits sentencing, government wants 15 yearsCNBC's Scott Cohn reports on news from court in San Jose, California, regarding the sentencing of Ramesh Balwani, former Theranos president and boyfriend of founder Elizabeth Holmes..

☆ Reuters: Former Theranos COO sentenced to nearly 13 years
▼ + stars: | 2022-12-07 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +4 min

CNN Business —Ramesh “Sunny” Balwani, the former chief operating officer of failed blood testing startup Theranos, was sentenced Wednesday to nearly 13 years in prison for fraud. Former Theranos COO Ramesh "Sunny" Balwani appears in court on Wednesday, December 7. Like Holmes, Balwani faced up to 20 years in prison as well as a fine of $250,000 plus restitution for each count. In a recent court filing, prosecutors noted that Balwani was convicted not only of defrauding investors but also defrauding patients. Before joining Theranos, Balwani had a career as a software executive.

☆ Sunny Balwani, Elizabeth Holmes' right-hand man at Theranos, has been sentenced to nearly 13 years in prison
▼ + stars: | 2022-12-07 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +4 min

Ramesh "Sunny" Balwani, former president and COO of now-defunct blood-testing startup Theranos, has been sentenced to 12 years and 11 months in prison and 3 years of probation. His sentencing comes weeks after his former business partner and ex-girlfriend, Theranos founder Elizabeth Holmes, was sentenced to more than 11 years in prison. The 58-year-old former Theranos president and COO was Holmes' right-hand man at the company for years. Before joining the company, Balwani had a stint at Microsoft and was president of a software development company that was ultimately acquired for $225 million. Elizabeth Holmes, Balwani.

☆ Former Theranos COO Sunny Balwani sentenced to nearly 13 years in prison
▼ + stars: | 2022-12-07 | by ( Rohan Goswami | ) www.cnbc.com time to read: +3 min

Former Theranos chief operating officer and president Ramesh "Sunny" Balwani was sentenced to nearly 13 years in prison Wednesday for fraud, after the unraveling of the blood-testing juggernaut prompted criminal charges in California federal court against both Balwani and Theranos founder Elizabeth Holmes, who on Nov. 18 was sentenced to more than 11 years in prison . Sunny Balwani, former president of Theranos Inc., arrives at federal court in San Jose, California, on Wednesday, Dec. 7, 2022. "I am responsible for everything at Theranos," Balwani said in a message to Holmes. Balwani's sentencing in federal court marks the end of the Theranos saga, which enthralled the public and prompted documentary films and novel treatments. "Kill the old Elizabeth," Balwani purportedly told her.

☆ A TikToker who 'consensually' doxxes people says it's easier than you'd think
▼ + stars: | 2022-12-07 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +5 min

Today, I am introducing you to a viral phenomenon that certainly wasn't on my 2022 bingo card: "consensual doxxing." Meet a TikToker who's gone viral for her "consensual doxxing" content. But one TikToker has garnered hundreds of thousands of followers who want her to expose their secrets. Kristen uses her platform to "consensually dox" users and reveal their birthdays using just social media — and has become a data-privacy educator by proxy. Users are often shocked by how easy it is for her to find out their information, Kristen said.

☆ Theranos Ex-President Sunny Balwani to Be Sentenced Wednesday
▼ + stars: | 2022-12-06 | by ( Heather Somerville | Christopher Weaver | ) www.wsj.com time to read: 1 min

Theranos Inc.’s former No. 2 executive could face an unusual white-collar criminal punishment: the possibility of being sentenced to a longer prison term than his boss, who was at the center of the fraud at her company, some criminal defense attorneys said. Ramesh “Sunny” Balwani faces sentencing in federal court Wednesday after being convicted of 12 counts of wire fraud and conspiracy. He denied all the charges, and his lawyers are asking for probation.

☆ Ramesh ‘Sunny’ Balwani: Who Is the Former Theranos President and What Was He Convicted Of?
▼ + stars: | 2022-12-06 | by ( Heather Somerville | ) www.wsj.com time to read: 1 min

Ramesh ‘Sunny’ Balwani, who was convicted on 12 charges, will be sentenced Wednesday. Prosecutors have asked for a 15-year sentence. Ramesh “ Sunny” Balwani , the former top lieutenant to Theranos Inc. founder Elizabeth Holmes , faces sentencing Wednesday in federal court after being convicted in July on all 12 charges that he helped perpetuate a yearslong fraud scheme at the defunct blood-testing startup. The government has requested a 15-year imprisonment for Mr. Balwani. His attorneys have asked for probation.

[1/6] QatarEnergy CEO and Qatar's Minister of Energy, Saad al- Kaabi and ConocoPhillips CEO, Ryan Lance attend the signing ceremony of two sales and purchase agreements to export liquefied natural gas (LNG) to Germany, in Doha, Qatar, November 29, 2022. The deal, the first of its kind to Europe from Qatar's North Field expansion project, will provide Germany with 2 million tonnes of LNG annually, arriving from Ras Laffan in Qatar to Germany's northern LNG terminal of Brunsbuettel, QatarEnergy's chief executive said. ICIS head of energy analytics Andreas Schroeder said the starting date of 2026 was late, as Germany needed LNG for 2023 and 2024. The deal comes a few days after QatarEnergy signed a 27-year sales and purchase agreement with China's Sinopec. The North Field is part of the world's biggest gas field, which Qatar shares with Iran.

☆ Judge proposes Theranos CEO Elizabeth Holmes serve her 11-year sentence in a 'minimum-security' Texas prison camp
▼ + stars: | 2022-11-23 | by ( Marielle Descalsota | ) www.businessinsider.com time to read: +2 min

A district judge proposed for Holmes to be sent to a prison camp at Bryan, Texas, court records show. Holmes was sentenced to 135 months in prison on November 18. District Judge Edward Davila recommended for Holmes to be designated to the Federal Prison Camp at Bryan, Texas, according to a November 21 filing. The Federal Prison Camp in Bryan is a minimum-security prison that houses female inmates. Holmes was sentenced to 135 months, or 11 years and 3 months, in prison on November 18.

☆ Elizabeth Holmes told a judge she felt 'deep pain' and was 'devastated' by her Theranos failings before being jailed
▼ + stars: | 2022-11-19 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

The founder of Theranos, Elizabeth Holmes, told a judge she was "devastated" by her failings. Holmes also apologized to a judge at her sentence hearing before being ordered to serve 11 years. The disgraced former chief executive said she felt "deep pain" for failing people. "Every day for the past few years I have felt deep pain for what people went through because I failed them." Her former boyfriend and business partner, Ramesh "Sunny" Balwani, was convicted of 12 charges of wire fraud and conspiracy to commit wire fraud in July.

Elizabeth Holmes, the founder and CEO of Theranos, the failed blood-testing company at the center of her downfall, will be sentenced Friday. Holmes was convicted in January of four counts of fraud for misleading Theranos investors about the company's technology and its financial health. Theranos had simply repurposed commercially available blood analysis technology to run on smaller amounts of blood, The Wall Street Journal revealed in October 2015. During Holmes’ trial, former employees testified that Theranos would also frequently delete erroneous results from its tests to make its machines appear more accurate. Holmes said Balwani lied to her about the company's financial models and subjected her to intimate partner abuse.

☆ Ramesh ‘Sunny’ Balwani: Who Is the Former Theranos President and What Was He Convicted of in His Trial?
▼ + stars: | 2022-11-18 | by ( Heather Somerville | ) www.wsj.com time to read: 1 min

Ramesh ‘Sunny’ Balwani leaving federal court after the verdict was read in San Jose, Calif., on Thursday. A federal jury convicted Ramesh “ Sunny” Balwani , the former top lieutenant to Theranos Inc. founder Elizabeth Holmes , on all 12 charges that he helped perpetuate a yearslong fraud scheme at defunct blood-testing startup Theranos Inc.Mr. Balwani was on trial for more than three months in federal court in San Jose, Calif. Prosecutors argued that he defrauded Theranos investors and patients by lying about the capabilities of Theranos’s finger-prick blood-testing technology.

☆ Theranos founder Elizabeth Holmes sentenced to more than 11 years in prison
▼ + stars: | 2022-11-18 | by ( Rohan Goswami | ) www.cnbc.com time to read: +3 min

Theranos founder Elizabeth Holmes was sentenced Friday to more than 11 years in prison for fraud after deceiving investors about the purported efficacy of her company's blood-testing technology. Holmes was convicted in January in the U.S. District Court for the Northern District of California. Once valued at $9 billion by private investors, Theranos shut down in 2018. U.S. District Court Judge Edward Davila, who presided over Holmes' trial, handed down the sentence. Holmes' sentencing comes as another young tech former billionaire icon, Sam Bankman-Fried, faces a daunting future, following the sudden collapse of his cryptocurrency exchange FTX last week.

☆ Disgraced Theranos founder Elizabeth Holmes has been sentenced to 11.25 years in prison with 3 years of supervised release
▼ + stars: | 2022-11-18 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +6 min

Disgraced Theranos founder Elizabeth Holmes has been sentenced to 11.25 years in prison with 3 years of supervised release. On Friday, federal judge Edward Davila handed down a prison sentence of 135 months, or 11.25 years, with 3 years of supervised release for the 38-year-old founder and former CEO of Theranos. Davila concluded the loss to investors in share value was $121 million, saying Theranos' stock would have been cheaper by that much if not for Holmes' fraud. Prosecutors, meanwhile, wanted a 15-year prison sentence and $800 million in restitution. Balwani was convicted in July on all 12 counts brought against him.

☆ Elizabeth Holmes scheduled to be sentenced on Friday
▼ + stars: | 2022-11-18 | by ( Rachel Metz | ) edition.cnn.com time to read: +5 min

CNN —Elizabeth Holmes, the founder of failed blood testing startup Theranos who was convicted of fraud earlier this year, is scheduled to be sentenced on Friday morning by a judge in court in San Jose, California. The list includes Holmes’ partner, Billy Evans, many members of Holmes’ and Evans’ families, early Theranos investor Tim Draper, and Sen. Cory Booker. Elizabeth Holmes (L), founder of Theranos, and her partner, Billy Evans (R), leave the Robert F. Peckham Federal Building and US Courthouse in San Jose, California, on October 17, 2022. “The effects of Holmes and Balwani’s fraudulent conduct were far-reaching and severe,” federal prosecutors wrote in a November court filing regarding Holmes’ sentencing. “Elizabeth Holmes is never going to run a big company again,” he said.

☆ Elizabeth Holmes' friends and family filed 130 letters asking for lenient sentencing, written by everyone like Cory Booker and Tim Draper to David Sokol and ex-Theranos staff — here are some highlight
▼ + stars: | 2022-11-16 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +2 min

"This process is a string of unlikely events that lawyers, advisors and board members all told her would never come to be." He wrote: "Liz has been called an incredible salesperson, that she wooed investors, partners, and employees with a sales pitch so compelling that they couldn't help but to be involved. Evans also shed some light on goings-on in Holmes' life during the trial. He says Holmes is, in fact, pregnant, as one witness hinted at in a recent evidentiary hearing. "The price Liz and our family pays for this process is not just the potential incarceration that you will decide.

Companies Theranos Inc FollowNov 11 (Reuters) - Elizabeth Holmes urged a U.S. judge not to send her to prison, as the founder of Theranos Inc prepares to be sentenced next week for defrauding investors in the blood testing start-up. "We ask that the court consider, as it must, the real person, the real company and the complex circumstances surrounding the offense." Holmes founded Theranos in 2003 at age 19, before dropping out of Stanford University. Theranos was once valued at $9 billion, and Forbes magazine in 2015 estimated Holmes' net worth at $4.5 billion. More than 130 friends, family, investors and former Theranos employees submitted letters to Davila urging leniency for Holmes.

☆ Europe still can't live without Russian LNG exports
▼ + stars: | 2022-11-09 | by ( Anna Cooban | ) edition.cnn.com time to read: +7 min

London CNN Business —Europe may be closer than ever to breaking its energy dependence on Moscow, but it still can’t live without one type of Russian natural gas. Russian imports doubled in the year to September to 1.2 million tons, Rystad data shows. The majority of the Russian LNG imports come from privately owned Novatek, the country’s second-largest natural gas producer after Gazprom. “I expect that Russian LNG will continue to play an important role in filling European storage going into winter of 2023,” he told CNN Business. “[Europe] would rather get whatever [it] can in terms of Russian pipeline gas and Russian LNG… it would take a lot before [it] would think about sanctioning gas or LNG from Russia,” Ramesh said.

A federal judge has denied Theranos Inc. founder Elizabeth Holmes' request for a new trial, setting the stage for her sentencing on fraud charges later this month. U.S. District Court Judge Edward Davila issued a ruling late Monday stating Holmes failed to establish that government misconduct had occurred during her trial. Davila delayed Holmes' sentencing and granted an emergency hearing last month after a visit to Holmes' residence by a key witness came to light. The witness, former Theranos lab director Adam Rosendorff, had allegedly told Holmes' current partner, William “Billy” Evans, that he had “done something wrong” during the trial with respect to his testimony. Holmes, 38, has been out on bail; according to the Associated Press, when asked after the October hearing if she was pregnant, Holmes didn’t respond but smiled warmly.

Companies Theranos Inc FollowNov 8 (Reuters) - Theranos founder Elizabeth Holmes' request for a new trial was denied by a federal judge in California late on Monday, court documents showed. In January, Holmes, 37, was found guilty of defrauding investors in the blood testing startup, convicting her on four of 11 counts. She was convicted of investor fraud and conspiracy, but acquitted on three counts of defrauding patients who paid for tests from Theranos, and a related conspiracy charge. In July, former Theranos President Ramesh "Sunny" Balwani was also convicted of defrauding investors and patients about Theranos that was once valued at $9 billion. Holmes' lawyers filed for a new trial in September citing "newly discovered" evidence from the government's statements made at the closing arguments of Balwani’s trial, as well as alleged government misconduct.

☆ The rise and fall of Elizabeth Holmes, the former Theranos CEO found guilty of wire fraud and conspiracy, who awaits sentencing in mere days after being denied all three of her motions for a new trial
▼ + stars: | 2022-11-08 | by ( Avery Hartmans | Sarah Jackson | Áine Cain | ) www.businessinsider.com time to read: +2 min

Later, technology flaws were exposed, resulting in a months-long trial where Holmes was found guilty on three counts of wire fraud and one count of conspiracy. Now, Holmes is due to be sentenced in a matter of days after a judge denied 3 motions she had filed requesting a new trial. As she awaited trial, Holmes reportedly found the time to get engaged — and married — to a hotel heir named Billy Evans. In January, jurors found Holmes guilty on three counts of wire fraud and one count of conspiracy to commit wire fraud. Since then, Holmes has also filed three motions requesting a new trial, all of which the judge ultimately denied.

☆ Elizabeth Holmes faces sentencing in a matter of days after all three requests she made for a new trial were denied
▼ + stars: | 2022-11-08 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

Elizabeth Holmes has been denied 3 requests seeking a new trial, including one based on a witness' visit to her home after she was found guilty. Holmes faces up to 20 years in prison for each of the four counts on which she was convicted. Regarding that motion, Holmes was initially granted a small victory, as the judge ordered a hearing into whether prosecutors engaged in misconduct around Rosendorff's testimony. As a result, Holmes' sentencing, which was previously set for October 17, was pushed back to November 18. Besides that motion, Holmes had also asked for a new trial on the grounds that prosecutors portrayed her relationship with Ramesh "Sunny" Balwani differently in each of their trials.

☆ Dubai courier firm Aramex buys Florida e-commerce company MyUS for $265 mln
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +2 min

DUBAI, Oct 19 (Reuters) - Dubai-listed courier firm Aramex (ARMX.DU) said on Wednesday it had bought Florida-based e-commerce company Access USA Shipping LLC (MyUS) for about $265 million in an all-cash deal. Abu Dhabi sovereign wealth fund ADQ holds a 22.32% stake in Aramex, transferred to ADQ-owned Abu Dhabi Ports in January. Abu Dhabi Ports made its stock market debut in February, raising 4 billion dirhams ($1.09 billion). Citi was financial adviser and Cravath, Swaine & Moore legal adviser to Aramex. UBS was financial adviser and King & Spalding legal adviser to all sellers, including an affiliate of Palm Beach Capital, a Florida-based private equity firm, Aramex said.

☆ John Fetterman 'has no work restrictions' as he recovers from stroke, PA Senate hopeful's doctor says
▼ + stars: | 2022-10-19 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +4 min

John Fetterman "has no work restrictions and can work full duty in public office" as the Democratic Senate candidate recovers from a debilitating stroke, his primary care physician said. Fetterman suffered the stroke in May, just before winning the Democratic nomination to compete for Toomey's seat. The stroke took Fetterman off the campaign trail for three months. Chen's evaluation of Fetterman "must be crushing news for Oz, who has been rooting against John's recovery and staked his entire campaign on it," top Fetterman campaign aide Rebecca Katz said in a statement. He has no work restrictions and can work full duty in public office," Chen said.

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