Jury Convicts Former Theranos President Sunny Balwani of Fraud

Ramesh "Sunny" Balwani, former president and chief operating officer (COO) of Theranos and ex-boyfriend of founder Elizabeth Holmes, arrives during jury deliberations at his federal trial for wire fraud and conspiracy to commit wire fraud in San Jose, Calif., on June 28, 2022. Brittany Hosea-Small/Reuters

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.