Prosecutors on Friday rested their case against Ramesh “Sunny” Balwani— the top deputy and close confidant to Theranos Inc. founder Elizabeth Holmes—as the government seeks another fraud conviction against the leaders of the defunct blood-testing startup.
Over nine weeks that included testimony from 24 witnesses in San Jose, Calif., prosecutors sought to convince a jury that Mr. Balwani conspired with Ms. Holmes to defraud investors and patients about the startup’s technology and blood-testing capabilities. Although Ms. Holmes was the company’s chief executive and founder, Mr. Balwani, as Theranos’s second-in-command and her longtime boyfriend, had enormous power at the Silicon Valley company and was a full participant in the fraud scheme, government attorneys have alleged.