Indian-origin former top Theranos executive Balwani loses bid to stay prison-free during appeal
The Hindu
A federal judge on March 9, in a 17-page ruling, denied the motion by Mr. Balwani to remain free until his appeal to a higher court is resolved
Ramesh “Sunny” Balwani, the Indian-origin former chief operating officer of a US-based failed blood-testing start-up, Theranos, has lost his bid to remain free while he appeals his conviction on fraud charges that prosecutors said risked patient health and defrauded the firm's investors of millions of dollars, according to a media report.
A federal judge on March 9, in a 17-page ruling, denied the motion by Mr. Balwani to remain free until his appeal to a higher court is resolved, the CBS News channel reported.
US District Judge Edward Davila held a nearly two-hour hearing on Mr. Balwani's motion in mid-February but delayed ruling until six days before the convict must report to prison.
M.r Balwani, 57, was sentenced in December last year in California to 12 years and 11 months in federal prison for fraud that risked patient health by misrepresenting the accuracy of Theranos blood analysis technology and that defrauded the blood-testing company's investors of millions of dollars.
In addition to the 155-month prison term, District Judge Mr. Davila sentenced Mr. Balwani to three years of supervision following his release from jail. Mr. Balwani was ordered to surrender on March 15, 2023, to begin serving his prison sentence.
In the order issued late on March 9, District Judge Davila wrote that although Mr. Balwani “is not likely to flee or pose” a danger to the community, “the most important requirement for staying free while the 9th Circuit Court of Appeals looks at the case was not met”, the report said.
The convict did not show that there was a "substantial" error in the trial that would "likely result in a reversal or new trial,” the report added.