Theranos Executives Ordered to Stand Trial for Blood Testing Scandal
Two senior executives of disgraced blood-testing firm Theranos will go to trial in July 2020 over fraud allegations, a federal judge in northern California has ordered.
Founder Elizabeth Holmes and former Chief Operating Officer Ramesh “Sunny” Balwani are accused of deliberately deceiving stockholders and the public about Theranos’ blood-testing products.
Holmes and Balwani pleaded not guilty to the wire fraud and conspiracy charges. If convicted, they face a maximum of 20 years in prison, a $2.75 million fine and possible restitution payments.