Former Theranos executive Ramesh “Sunny” Balwani has returned to federal court in a last-ditch attempt to stay out of prison while he's appealing a jury’s verdict convicting him of orchestrating a blood-testing hoax with his former boss and lover.
Former Theranos executive Ramesh"Sunny" Balwani, center, walkes to federal court with his attorney Mark Davies, Friday, Feb. 17, 2023 in San Jose, Calif. Balwani returned to federal court Friday in a last-ditch attempt to stay out of prison while he appeals a jury's verdict convicting him of deceiving investors and patients in a blood-testing hoax that he orchestrated with his former boss and lover, Elizabeth Holmes.
Davila didn't issue any rulings at the end of the 90-minute hearing. His decision on whether Balwani can remain free on bail while he appeals his conviction, however, is likely to come soon. That's because Balwani, 57, is scheduled to report to prison in Lompoc, California, on March 15. 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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