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.