Elizabeth Holmes, the founder of the now-defunct company Theranos, has been granted a reduced prison sentence for her involvement in a deceptive blood-testing scheme, where she made false claims about her company’s technology.
According to the Federal Bureau of Prisons, Holmes, 39, is now projected to be released on December 29, 2032, which is approximately two years earlier than her original release date.
The Federal Bureau of Prisons spokesperson explained that they are unable to provide details about an inmate’s confinement due to privacy, safety, and security reasons. However, they mentioned that every inmate has the opportunity to earn good conduct time, which can affect their projected release date.
Holmes began serving her 11-year sentence for fraud and conspiracy on May 30 at a federal prison in Bryan, Texas. She was convicted for making false statements about Theranos’s blood-testing technology. Holmes, a dropout from Stanford University, had promoted her former company by claiming to have revolutionary technology capable of diagnosing diseases and conditions with only a small amount of blood. These claims allowed Theranos to secure nearly $1 billion in investments.
In 2022, Holmes was found guilty of three counts of wire fraud against Theranos investors and one count of conspiracy to commit wire fraud. She received her sentence in November of the previous year.
Ramesh “Sunny” Balwani, Holmes’s former partner and Theranos chief operating officer, started his nearly 13-year prison term in April for his involvement in the scheme.
Note: The Associated Press contributed to this report.
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