Theranos founder Elizabeth Holmes gets prison sentence slashed by nearly 2 years
Elizabeth Holmes, the 39-year-old mastermind behind Theranos, who was convicted of various fraudulent activities, has had her prison sentence cut by almost two years, as per official prison documentation.
As stated on the Bureau of Prisons' official site, Holmes is scheduled to be set free from Federal Prison Camp Bryan, a facility exclusively for women with minimal security measures, situated in Bryan, Texas, on December 29, 2032. This will occur approximately 9.5 years after her initial entry into the prison on May 30.
In her revised sentence, Holmes will be serving approximately 20 months less than her original punishment of 11 years and 3 months.
In January 2022, a panel of jurors declared Holmes culpable for four counts of deceit and collusion. Originally, the technology leader faced 11 allegations, but she was absolved of four. However, the jury was unable to reach a decision on the remaining three charges.
Elizabeth Holmes Behind Bars: An Insight into Life Within a Texas Facility
Elizabeth Holmes, the ex-CEO of Theranos, is set to be freed from prison ahead of schedule, as confirmed by prison documents. (Image credit: Philip Pacheco/Getty Images)
Fox Business contacted the Federal Bureau of Prisons, who verified the expected release date but did not provide any further information.
The Federal Bureau of Prisons informed Fox Business that they are unable to comment on the specific circumstances regarding the confinement of inmates, such as their release planning or plans, due to concerns related to privacy, safety, and security. Nevertheless, they are able to share some general information.
Elizabeth Holmes has started serving her 11-year prison term.
According to the Bureau, prisoners have the chance to accrue good behavior time that can affect their expected date of release. Some inmates are also offered the chance to engage in and successfully finish programs aimed at reducing reoffending and substance abuse, which can lead to an early release.
Holmes is currently challenging her conviction by appealing to the Ninth Circuit Court of Appeals. However, her previous plea to remain at liberty during the appeal process was declined by the court in May.
The photograph showcases the Federal Prison Camp Bryan situated in Bryan, Texas.
Holmes rapidly gained popularity in the tech hub of Silicon Valley when she made the decision to leave Stanford University at the tender age of 19 and establish Theranos. In no time, she accumulated enormous wealth, impressing investors with her claims that her company had the ability to accurately detect a multitude of illnesses using only a few drops of blood.
In 2015, her empire suffered a major downfall when the Wall Street Journal published a report stating that her company relied on conventional machines instead of innovative methods for testing. The article also highlighted shortcomings in the diagnostics, which added to the setbacks experienced by her company.
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Holmes was charged in 2018 alongside Theranos' chief operating officer and former boyfriend, Ramesh "Sunny" Balwani, who was convicted of 12 counts of fraudulent activities.
Sunny Balwani, former partner of Theranos creator Elizabeth Holmes, has been convicted of all the accusations brought against him in relation to the downfall of the blood-testing startup that was once valued at $9 billion. (David Paul Morris/Bloomberg via Getty Images / Getty Images)
Judge Edward Davila from the US District Court for the North District of California handed down a verdict for Holmes and Balwani, compelling them to reimburse the victims of their wrongdoings with a sum totaling around $452 million.
This report was contributed by Breck Dumas from Fox Business.
