A jury on Thursday convicted former Theranos Inc. President Ramesh “Sunny” Balwani of defrauding investors and patients about the blood testing startup that was once valued at $9 billion.
The San Jose, California, jury deliberated for a little more than five days before convicting Balwani on two counts of conspiracy and 10 counts of fraud, a spokesperson for U.S. Attorney Stephanie Hinds said.
Sentencing was scheduled for Nov. 15.
Theranos founder Elizabeth Holmes, who initially faced the same charges, was convicted on three counts of fraud and one count of conspiracy at a separate trial in January. She is scheduled to be sentenced on Sept. 26….