Biotech Wizard Left a Trail of Fraud—Prosecutors Allege It Ended in Murder

Serhat Gumrukcu faces trial in a purported murder-for-hire plot to silence an associate who could have exposed him and derailed a drug-development deal worth millions of dollars. Source link

Theranos Ex-President Ramesh ‘Sunny’ Balwani’s Fraud Case Goes to Jury

The fate of Ramesh “Sunny” Balwani is now in the hands of a dozen jurors after a federal judge on Friday handed them the criminal-fraud case with instructions to decide whether the former Theranos Inc. president deceived investors and patients in a high-profile Silicon Valley saga. The conclusion of testimony and arguments in the white-collar … Read more

WSJ News Exclusive | Facebook Parent Meta Pulls Out of Sponsorship Deal for U.S. 250th Anniversary Project

WASHINGTON— Facebook parent Meta Platforms Inc. said Wednesday it has canceled its sponsorship agreement with the organization planning the federal government’s commemoration of the 250th anniversary of the U.S., a project beset by internal strife and facing a discrimination lawsuit filed by female former executives. Meta said in March it would review its ties to … Read more

Lawyers Make Final Arguments in Fraud Case Against Former Theranos President

Government prosecutors in the criminal-fraud trial of Theranos Inc.’s former second-in-command, Ramesh “Sunny” Balwani, made their final pitch to the jury in closing arguments Tuesday, as the Silicon Valley case moves closer to a resolution. Assistant U.S. Attorney Jeff Schenk said that Mr. Balwani, longtime president and chief operating officer of the now-defunct blood-testing startup, … Read more

Former Theranos President’s Defense Rests in Criminal-Fraud Trial

SAN JOSE, Calif.—Lawyers for Ramesh “Sunny” Balwani called their second and final witness and rested their brief defense of the onetime Theranos Inc. executive charged with a dozen counts of criminal fraud. Mr. Balwani didn’t testify in his own defense. Thursday’s testimony from technical consultant Richard Sonnier brings the trial, which follows the conviction of … Read more

Billionaire Robert Brockman Found Competent to Stand Trial for Tax Evasion

Billionaire Robert Brockman is competent to stand trial for tax evasion, a federal judge ruled, finding that the Texas automotive-software mogul was exaggerating his symptoms of dementia in an effort to avoid prosecution and a potentially lengthy prison sentence. Mr. Brockman was indicted in October 2020 on charges that he used a web of offshore … Read more

Prosecution Rests in Trial of Former Theranos President Ramesh ‘Sunny’ Balwani

Prosecutors on Friday rested their case against Ramesh “Sunny” Balwani—the top deputy and 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 … Read more

Elon Musk Says Twitter Deal Can’t Move Forward Without More Clarity on Fake Accounts

Elon Musk said his $44 billion purchase of Twitter Inc. TWTR -8.18% can’t move forward until the company is clearer about how many of its accounts are fake, casting fresh doubt on his planned takeover of the social-media company. Mr. Musk’s latest comments add to questions about whether he is committed to concluding a deal … Read more

Alleged Covid-19 Fraud Schemes Totaling $150 Million Draw Criminal Charges

Federal prosecutors have charged about 20 people in the past two weeks with allegedly engaging in various fraud schemes related to the Covid-19 pandemic that amounted to about $150 million in improper government payments, officials said. The charges come as the Justice Department steps up efforts to uncover theft from programs that were pumping billions … Read more

Huawei Promotes Founder’s Daughter Meng to Top Shared Leadership Post

HONG KONG—Huawei Technologies Co. has promoted finance chief Meng Wanzhou to one of the tech giant’s top leadership positions, the latest sign of her rising stature six months after a deal with the U.S. releasing her from detention in Canada. The Chinese company named Ms. Meng one of three senior executives known internally as rotating … Read more