Ramesh “Sunny” Balwani, once a top executive at the now-defunct health-tech company Theranos, managed to delay the start of his 13-year prison sentence for defrauding investors out of millions along with his former boss and ex-lover, Elizabeth Holmes.
The Balwani Legal Team documents filed on Thursday notifying US District Judge Edward Davila said the former Theranos chief operating officer would not turn himself in to authorities just hours before he was ordered to do so. They cited their recent efforts to appeal a ruling rejecting Balwani’s request to remain free while he tries to quash your conviction. The filing triggered an automatic suspension of his prison reporting date.
Balwani was initially due to be delivered on Thursday at 2pm local time.
Both Holmes and Balwani were charged in June 2018 with wire fraud and conspiracy to commit wire fraud. Each of them was accused of defrauding wealthy investors, doctors and patients by claiming that Theranos’ technology, nicknamed “the Edison,” could administer tests for more than 200 diseases and medical conditions with just a drop of blood.
The fraud came to light in 2015 after Holmes and Balwani managed to trick investors into giving them almost $1 billion.
During her high-profile trial in San Jose, Holmes, 38, once lauded as a Silicon Valley superstar, tried unsuccessfully to convince the jury that Balwani manipulated her and that he was to blame for the entire scheme.
Similarly, Balwani tried to present himself as the victim, with lawyers arguing that he believed Holmes and his health-tech startup as much as he believed the investors they defrauded.
It is unclear how long it will take for the appeals court to issue a ruling.
with cable news services
