A federal prosecutor says Ramesh "Sunny" Balwani performed a central position in ripping off traders whereas working as an government at a startup headed by Elizabeth Holmes, who was earlier convicted of fraud fees.

A San Jose, California, jury on Tuesday heard opening statements within the trial of Balwani, a former boyfriend of Holmes who additionally served as chief working officer of the once-heralded well being expertise company she based. Statements from each the prosecution and protection sign the trial will deal with how shut Balwani was to Holmes.

Holmes, 37, the founder and former CEO of Theranos, was discovered responsible in January on 4 counts for her position in defrauding traders in her firm that promised to revolutionize blood-testing. After founding the Silicon Valley startup in 2003 at 19, the Stanford College dropout gained wealth and renown for her expertise that promised to establish over 1,000 datasets from a single drop of blood.

Nonetheless, the corporate collapsed after experiences emerged that Theranos' expertise did not dwell as much as its hype, endangering sufferers.

Ramesh "Sunny" Balwani At Trial
Former Theranos COO Ramesh "Sunny" Balwani goes by means of a safety checkpoint as he arrives on the Robert F. Peckham U.S. Federal Courtroom on March 16, 2022, in San Jose, California. Balwani appeared in federal courtroom for the primary day of his trial the place he faces fees of conspiracy and wire fraud for allegedly participating in a multimillion-dollar scheme to defraud traders with the Theranos blood-testing lab providers.Justin Sullivan/Getty Pictures

"Ms. Holmes and Mr. Balwani have been companions in just about all the things," prosecutor Robert Leach advised the jury, in accordance with CBS affiliate KPIX 5. "The defendant and Holmes knew the rosy falsehoods that they have been telling traders have been opposite to the fact inside Theranos."

Leach, who prosecuted Holmes, advised the jury the case was "about fraud; mendacity and dishonest to get cash," mentioning that Balwani had no medical diploma or expertise with medical gadgets.

"The headlines and the sensational tales about Theranos and Elizabeth Holmes haven't any place on this trial," Balwani's lawyer Steve Cazares advised the jury, experiences siliconvalley.com.

Cazares advised the jury that though Balwani entered a romantic relationship with Holmes and lived collectively, he confused there was distance between the 2. He stated Holmes based Theranos in 2003 and Balwani did not be a part of the corporate till 2009.

Balwani, 56, by no means bought his shares within the firm even after investing $5 million of his personal cash and assured a $10 million mortgage, Cazares stated, in accordance with siliconvalley.com.

"He joined Theranos as a result of he believed in Theranos' expertise," Cazares stated. "He did not be a part of Theranos as a result of Elizabeth was his girlfriend."

However Leach advised the jury that Balwani purportedly managed the corporate's troubled laboratory and was accountable for inaccurate income statements supplied to traders.

Throughout her trial, Holmes tearfully testified that Balwani manipulated and managed her, yelling at her and telling her he was "so dissatisfied in my mediocrity."

"He felt like I got here throughout as just a little woman and thought I wanted to be extra severe and extra pointed," Holmes stated through the trial.

Her testimony was markedly completely different from texts launched earlier referring to Balwani as her "tiger."

Holmes, who has but to be sentenced, might resist 20 years in jail and a high quality of $250,000, however is predicted to obtain a lighter sentence after jurors acquitted her on 4 of the fees.

Balwani might face an identical sentence.

Newsweek has reached out to Balwani's legal professional for remark.