Elizabeth Holmes’ former partner ‘Sunny’ Balwani headed to prison after losing appeal

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The man who helped Elizabeth Holmes run the now-defunct blood-testing business Theranos is headed to prison later this month after a federal appeals court rejected his request to remain free until his appeal is decided.

In July, former Theranos chief operating officer Ramesh “Sunny” Balwani was convicted on 12 counts of fraud for his involvement in an epically audacious fraud scheme in the company founded and run by Holmes, with whom he was also romantically involved.

Theranos — the once-Silicon Valley sensation that claimed it would revolutionize the blood-testing industry by promising to scan for hundreds of diseases with just a prick of blood — fell from tech heaven in 2015 after it was exposed as a fraud.

Balwani was convicted for convincing investors to pour money into the fraudulent company while he was aware the blood tests didn’t work, according to prosecutors.

In December, U.S. District Judge Edward Davila sentenced Balwani to a prison term of 12 years and nine months. Last month, Davila rejected Balwain’s request to remain free while he appeals his conviction.

He was scheduled to begin serving his sentence on March 16. However, just hours before he was supposed to surrender, Balwani’s lawyers filed a motion that automatically triggered a stay of his reporting date.

On Thursday, the three judges on the Ninth Circuit Court of Appeals found Balwani failed to provide enough evidence that his conviction is likely to be overturned.

It’s still unclear when Balwani will have to surrender to authorities, but one of his lawyers proposed the 57-year-old begin serving his sentence on April 20.

Holmes, who was also convicted of fraud, was sentenced in November to 11 years and three months in prison. The 39-year-old, who became pregnant with her second child in between the conviction and the sentencing, was scheduled to report to prison on April 27.

On March 17, Holmes and her lawyers asked for that date to be delayed while they pursue her appeal, a process that could take months. Judge Edward Davila is expected to issue a ruling in early April.

With News Wire Services