Balwani’s Theranos Fraud Trial Delayed as Holmes’ Fight Drags On
Balwani’s Theranos Fraud Trial Delayed as Holmes’ Fight Drags On
(Bloomberg) -- The longer than expected fraud trial of Theranos Inc. founder Elizabeth Holmes has delayed the related trial of the company’s former president Ramesh “Sunny” Balwani.
U.S. District Judge Edward Davila on Monday agreed to postpone Balwani’s trial to Feb. 15 from Jan. 11.
U.S prosecutors and Balwani’s lawyers proposed the delay, saying it was warranted “in light of the length of the Holmes trial,” which was scheduled to end the first or second week of December. They sought additional time to review evidence gathered and the final verdict in the Holmes case.
Closing arguments in the Holmes trial are set for Dec. 16 and 17 before jury deliberations begin. Holmes pinned significant blame for what went wrong at Theranos on Balwani, with whom she entered into a romantic relationship when she was 18 and he was 38.
Both Holmes and Balwani faces as long as 20 years in prison if convicted on charges that they deceived investors and patients about Theranos’s blood-testing capabilities.
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