- Ramesh “Sunny” Balwani has had round two years shaved off his federal jail sentence.
- The previous Theranos government reported to jail in April to serve a virtually 13-year sentence.
Ramesh “Sunny” Balwani, Elizabeth Holmes’ ex-boyfriend and the No. 2 in cost on the failed blood-testing startup Theranos, has had a while shaved off his practically 13-year sentence for fraud and conspiracy, Insider has discovered.
Balwani, Theranos’ former president and chief working officer, was convicted final yr and sentenced to 12 years and 11 months in federal jail plus three years of probation, in line with court docket paperwork.
However federal-prison officers have diminished Balwani’s sentence. His new projected launch date is April 11, 2034 — that means he’s set to serve about 11 of the virtually 13 years that he was initially sentenced to. Final month, a decide ordered Balwani and Holmes to pay $452 million in restitution to defrauded traders, together with $125 million to the media magnate Rupert Murdoch, Insider’s Sarah Jackson beforehand reported.
Final yr, following a monthslong trial, a jury discovered him responsible of 12 counts of conspiracy and fraud. Balwani is interesting his conviction. His lawyer, Stephen Cazares, declined to remark.
In April, Balwani reported to jail at FCI Terminal Island, a minimum-security federal facility simply outdoors of Los Angeles.
A spokesperson for the US Bureau of Prisons confirmed Balwani’s launch date however declined to touch upon the specifics of his case, citing privateness and safety causes. Nevertheless, the spokesperson mentioned that usually, each inmate might earn as much as 54 days of “good conduct time” for yearly served, which shortened their sentence. Additionally they mentioned inmates might earn credit score for time served by way of participation in recidivism-reduction packages and residential drug remedy.