Mr. Balwani is awaiting criminal trial on charges stemming from what prosecutors say were misleading claims about Theranos’ blood testing technology. He’s facing two counts of conspiracy to commit wire fraud and nine counts of wire fraud.
Theranos founder Elizabeth Holmes is also facing charges of wire fraud and conspiracy to commit wire fraud. She and Mr. Balwani are both facing up 20 years in prison if convicted, according to CNBC.
Theranos and its leaders claimed the company’s technology could use a few drops of blood to accurately run hundreds of tests. The company, which was once valued at more than $9 billion, shut down last year after a Wall Street Journal investigation into its technology and business practices.
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