Sunny Balwani

Legendary card · No. 106

Ramesh "Sunny" Balwani (born June 13, 1965) is a Pakistani businessman who was the former president and chief operating officer of Theranos, which was a privately held health technology company founded by his then-girlfriend Elizabeth Holmes. He and Holmes fraudulently represented that they had devised a revolutionary blood test that required only small amounts of blood, such as from a fingerstick. Both Balwani and Holmes were convicted of fraud. The consequences of the fraud led to the collapse of Theranos, while private investors lost $700M to $945M in real money. Starting in 2015, Theranos came under criticism in the media due to its questionable claims and practices. The company was eventually liquidated. Balwani and Holmes were criminally charged by federal authorities for operating the business as a multi-million dollar scheme to defraud investors and patients. Holmes was found guilty and sentenced to 11 years and 3 months in prison. Balwani was found guilty on all counts, and was...

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