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Ramesh Balwani is an American businessman. Ramesh Balwani was the former president of Theranos Biotechnology Company, which was a private healthcare technology company. He also became the former chief operating officer (COO) of Theranos.
Early age and education
Ramesh Balwani is 58 years. He was born in June 13, 1965 in Pakistan to a Hindu family. However, his exact date of birth is confusing as Wikipedia listed his date of birth as March-June 1965.
His family later moved to India because it was difficult to survive as a Hindu in Pakistan. Then his family moved to the United States.
Talking about his personal life, there is no detailed information about his parents and family members. He belongs to Indian-American nationality and ethnic group of Asians.
Ramesh Balwani began his undergraduate studies at the University of Texas at Austin in 1986 where he was a member of the Pakistan Students Association. She received a bachelor’s degree in Information Systems and Artificial Intelligence.
In 2003He went back to school to earn an MBA in California, Berkeley.
While at Berkeley, he met Elizabeth Holmes. She was in her last year of high school.
Furthermore, another 4 years in a computer science graduate program at Stanford University, although he dropped out in 2009.
Ramesh Balwani – Net worth 2024
As of 2018, he used to work for Theranos. His net worth is under review as of 2023. She used to enjoy an impressive net worth of $85 million.
Currently, the Theranos company has disappeared. His net worth has decreased to $0 today.
civil status
Ramesh Balwani married Keiko Fujimoto, a Japanese artist, and they ended up divorcing in 2004. There is no detailed information about their marriage. However, they separated.
Furthermore, Balwani has a history of dating Elizabeth Holmes. The two met in Berkeley in 2003, when Holmes was just 18 and a high school student.
Furthermore, they both knew of their romantic relationship until Holmes revealed it during their 2017 statement. Due to different professional and personal problems, they ended their relationship.
Although Elizabeth became engaged to her fiancé, William Billy Evans. She served as special projects manager for Luminar Technology in 2019.
Caption: Wife of Ramesh Balwani (Source: Dresher)
Professional life and career
Reflecting on his career, Balwani had worked for Lotus software and Microsoft before founding Commercebid.
In 2009, Balwani joined Theranos a few years after Holmes founded it. He had never received any training in life sciences and medical devices, and this soon began to cause problems.
Focusing full time on Theranos, he abandoned his chemical engineering degree.
Likewise, his behavior towards Theranos employees was also problematic. According to workers, he was authoritarian, uncompromising and demanding.
He was also extremely concerned about corporate espionage and tried to maintain paranoid-level secrecy in company affairs.
Additionally, Theranos claimed to have developed devices that would automate and miniaturize blood tests using microscopic volumes of blood.
Workers called the device’s blood collection container a “container” and its testing machine “Edison.”
He even compared the device to the discovery of antibiotics. Likewise, Balwani often spoke beyond his knowledge, which was quite evident to the workers.
According to the October 2015 report, Theranos’ Edison blood testing device provides incorrect diagnoses and medical results.
Because of this, the device failed to pass several quality checks and returned very inconsistent results.
Likewise, in April 2016 the company was forced to invalidate all the test results of the machines corresponding to the years 2014 and 2015.
They even had to invalidate the results of several other tests, despite performing them on conventional machines.
The Centers for Medicare and Medicaid Services (CMS) gave the company a warning via letter in January 2016 after conducting an inspection of Theranos’ lab in Newark.
The CMS had suggested that Balwani should be imposed a two-year ban on owning or operating a blood laboratory because the company was unable to rectify problems at its California laboratory.
Legal issues
The U.S. Securities and Exchange Commission (SEC) filed massive fraud charges against Balwani, Theranos, and Holmes on March 14, 2018.
Through this, he faced four complaints for violations of the United States Security Law.
The SEC made the accusation against him: “he focused on developing software for Theranos technology and managing personnel and operations… and collaborated closely with [Holmes] and we make decisions about the company together.”
They even accused Balwani of misleading and deceiving pharmacies, grocery stores and investors.
Similarly, the charges against Theranos also involved the company’s dealings with the Food and Drug Administration (FDA).
The (SEC) said Balwani made false statements that Theranos did not need FDA approval or clearance.
After a two-year investigation by the U.S. Attorney’s Office in San Francisco, he and Holmes were indicted on nine counts of wire fraud and two counts of conspiracy to commit wire fraud by a federal grand jury on June 15, 2018.
Scandal
Reflecting on Ramesh Balwani’s controversies, he has gone through many controversies while working at Theranos.
He received no training in any biological sciences or medical devices. But he was still working as president of Theranos, which was a blood testing company. And also because of his behavior he has gone through controversies.
Currently, Theranos founder Elizabeth Holmes and former COO Ramesh Balwani are charged and prosecuted for massive fraud by the Securities and Exchange Commission.
However, Balwani claims that he is not guilty of the charges and will fight the wrong charges in court, as his lawyer told him in March 2019.
If he faces the punishment charged, he will face a prison sentence of up to 20 years.
Caption: Ramesh was accused of massive fraud involving Theranos. Source: Bloomberg
Ramesh Balwani – Body Measurements
According to online resources, Balwani is 5 feet 7 inches tall and weighs 68 kg.
Furthermore, both her eye color and hair color are black. Apart from this, there is no information about his other measurements.
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Categories: Biography
Source: vcmp.edu.vn