The biotech company founder was originally scheduled to be released in December 2032, 11 years and three months after the start of her sentence, but she now has an August 2032 release date
Elizabeth Holmes‘ federal prison sentence has been reduced for a second time. The disgraced Theranos founder is currently serving an 11 year and three month-long sentence at a federal women’s prison camp in Bryan, Texas that was initially knocked down by two years and has now been shorted by an additional four months.
A spokesperson for the Bureau of Prisons told the Guardian that no additional information could be disclosed beyond confirmation of the reduction. When the sentence was first cut down in July 2023, to Dec. 29, 2032, the bureau stated that incarcerated individuals can earn good conduct time that can be put towards reducing their projected release date.
Holmes is now scheduled to be released from prison on Aug. 16, 2032. The 40-year-old was sentenced in November 2022, nearly a full year after being found guilty of lying to investors to raise money for her blood-testing startup Theranos in January 2022. Holmes made multiple requests for a new trial but was unsuccessful in her quest. She began her sentence on May 30, 2023.
Judge Edward J. Davila of California’s Northern District said he believed iHolmes was led to defraud investors of more than $100 million by an intoxication with fame that came from her promise to revolutionize healthcare. A jury found she lied to investors about the company’s capabilities in pursuit of money and fame.
Theranos Chief Operating Officer Ramesh “Sunny” Balwani was also convicted and sentenced, receiving nearly 13 years behind bars. As part of her defense, Holmes accused Balwani, who was her former boyfriend, of abusing her. He was ultimately convicted on all 12 fraud charges brought against him for his role at Theranos.