[Daily Mail, where America gets its news] There are limits even for the connected, it appears. - Ramesh 'Sunny' Balwani, 57, was the chief executive officer of Theranos
| Theranos was a company chock full of Bright Young Things that supposedly had a breakthrough technology that would quickly perform vast numbers of very demanding blood tests using only a few drops of the patient’s blood. Unfortunately, that breakthrough had not been invented yet, and in fact continues to be the finest quality vapourware that at one point was valued at $9 billion before falling to zero in 2016. Smart set investors included billionaire venture capitalists Tim Draper and Don Lucas Sr, Rupert Murdoch, the Walton family, Betsy Devos, Larry Ellison, Mexican billionaire Carlos Slim and companies like Walgreens and Safeway, while the board brought in former Secretaries of State Henry Kissinger and George Shultz, former Defence Secretary William Perry, future Defence Secretary General James "Mad Dog" Mattis, former U.S. Senator and Chair of the Armed Services Committee Sam Nunn, power lawyer David Boies, Retired U.S. Navy Admiral Gary Roughead, and former CEO of Wells Fargo Richard Kovachevic... |
and the former boyfriend of founder Elizabeth Holmes
- Holmes, 38, was sentenced to 11 years in prison for her role in defrauding investors in the blood testing startup
- On Wednesday, Balwani was sentenced to 13 years, having been convicted in July of fraud and conspiracy
- The jury in Balwani's trial convicted him on every count while jurors in Holmes' separate case acquitted her on some charges and deadlocked on others
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