Elizabeth Holmes will be released from prison a little earlier than expected.
The sentence for the Theranos founder has been shortened by nearly two years, according to Federal Bureau of Prisons website. Her release date is set for December 29, 2032, reducing her prison term from her original sentence of 11 years and three months to nine years and seven months.
Holmes has been in jail for less than a month and a half now, after he reported to the federal minimum-security prison camp in Bryan, Texas on May 30. The Bureau of Prisons confirmed the expected new release date for luckbut said she could not provide specific details about release planning or release plans, citing “reasons for privacy, safety and security” for the inmates.
However, officials said, inmates can earn good behavior time for a number of acts, including participating in programs and performing “productive activities,” which affects their expected release date. Prisoners may also be released up to 12 months early if they complete an office residential drug use program. Inmates can also receive credit for time spent in any prison prior to their sentencing date. (Holmes has been out on bail since her conviction, apparently ruling out the latter option. There is no indication of any, if any, of the other options Holmes availed herself of.)
Holmes was convicted in 2022 of defrauding investors after exposing Theranos’ blood-testing technology as a fraud. Former head of the company (and friend of Holmes) Ramesh “Sunny” Balwani was convicted, separately, and sentenced to nearly 13 years in prison.
Al-Balwani also saw his sentence reduced by nearly two years, according to the BOP website.
Holmes, prior to her imprisonment, tried to persuade the court to allow her to remain at large while she appealed her case, but to no avail. In addition to the prison sentence, Holmes was also ordered to pay $452 million to the compensation fraud victims. Her lawyers argued that she could now not pay the $250 per month payment after she finished her term.
