Former Theranos exec Sunny Balwani is found guilty

After a three-month trial, Sunny Balwani was found guilty on all 12 charges.

In her own high-profile trial this winter, she was found guilty of defrauding investors and conspiring to defraud investors, but she was not found guilty of defrauding patients. The jury found Balwani guilty of swindling investors and patients as well as conspiring to swindle them.

Theranos wanted to conduct dozens of tests on a single drop of blood in order to change healthcare. In the most egregious cases, patients were presented with dangerously false medical results, despite the fact that Theranos technology never actually worked. A mother with a history of miscarrying was wrongly told that she would have another baby. A patient who used Theranos for its low costs was flagged as HIV positive and had to live in limbo for three months until she could afford a second test. She didn't have the disease.

Balwani will be held accountable for the false cancer diagnosis of a patient.

The former CEO filed for a separate trial because she said Balwani had emotionally and sexually abused her. The judge granted the request even though the court isn't ruling on the allegations.

Balwani's lawyers tried to convince the jury that he wasn't involved in key decision-making even though he was an investor. There is a difficult argument to be made to a jury about who is responsible for the company.

She tried to pin the company's failure on Balwani. She was the rare witness in a criminal fraud trial who detailed their relationship. Balwani had so much control over both her and her company that he micromanages her daily schedule, including how she dressed and what she ate.

The same evidence was used in Balwani's trial. There was a key piece of evidence focused on by the prosecution. Most of the testing on the faulty technology was done on third-party equipment, even though Walgreens didn't know about it. A lot of patients had blood drawn not from a finger but from an IV because Theranos couldn't make accurate test results. Walgreens spent hundreds of millions of dollars redesigning stores for Theranos to use the same old tech.

A Walgreens executive testified that he worked with Balwani on the deal. The prosecution showed a text from Balwani to Holmes in which he said that he didn't tell Walgreens that they were using different machines.

On the fifth day of deliberations, the jury came to a decision in Balwani's case. The former executives are going to be sentenced.

The story is developing.

What’s left to learn from Theranos? Have friends.

Elizabeth Holmes convicted of 4 of 11 fraud counts in Theranos trial