Former Theranos exec seeks to avoid lengthy prison sentence
Former Theranos executive Ramesh “Sunny” Balwani returned to U.S. federal court Friday in a last-ditch attempt to stay out of prison while appealing a jury’s verdict convicting him of orchestrating a blood-testing hoax with his former boss and lover, Elizabeth Holmes.
The judge said he doesn’t expect to decide on the question of how much Balwani should pay in restitution until another hearing on the same issues is held for Holmes, Theranos’ disgraced CEO, on March 17. Federal prosecutors are seeking a court order that would saddle Balwani with a restitution bill of nearly $900 million – a figure that would likely be largely symbolic. It would also be far larger that than the $120 million loss estimate that Davila used in calculating Balwani’s prison sentence.
Balwani attorney Mark Davies alleged that government misconduct in the presentation of evidence during Balwani’s trial makes it likely he will prevail in the appeal of his convictions. But federal prosecutor Kelly Volkar repeatedly denied any wrongdoing.
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