Ramesh “Sunny” Balwani his fate has been given up.
The 57-year-old—who served in several executive positions at Theranos, the health technology company built by Elizabeth Holmes—was sentenced to 12 years and 11 months in federal prison on Dec. 7, according to a statement from the United States Attorney Stephanie M. Hinds obtained by E! news
In addition to his nearly 13-year sentence, Balwani—who was found guilty by a federal jury of defrauding investors, patients and doctors through Theranos earlier this year—was also given three years of probation. management after his release from prison, which he got. Ordered to surrender and begin service on March 15, 2023.
The amount of restitution that Balwani has to pay is still a pending decision. A hearing is scheduled to be held in the future.
After the verdict, Hinds noted in a statement that Balwani’s sentence “should serve as a lesson to anyone considering fraud in their own drive for success.”