Theranos Executives Ordered to Stand Trial for Blood Testing Scandal

July 9, 2019

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.

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