Disgraced Theranos founder Elizabeth Holmes’ prison sentence shortened by 2 years
Elizabeth Holmes, the founder of the blood-testing lab Theranos, appears to have had her prison sentence shortened by about two years, according to federal records.
Holmes, 39, reported to a federal prison in Bryan, Texas on May 30 to begin serving an 11-year, 3-month sentence for his role in wire fraud at the now-defunct company.
An update to her inmate details on the Bureau of Prisons website listed her expected release date as December 29, 2032. That means she would be released about two years ahead of schedule.
A spokesperson for the Federal Bureau of Prisons confirmed that Holmes had an expected release date of December 29, 2032.
They said they could not provide further comment due to “privacy, safety and security reasons.”[ads1]; However, they noted that each inmate can serve good behavior time, which is “projected into their projected release date,” while some inmates may be eligible for early release through other mechanisms.
Holmes was found guilty of four counts of wire fraud in January 2022.
Almost 20 years earlier in 2003, she had dropped out of Stanford University at 19 to launch Theranos, a company that sought to diagnose a variety of medical conditions with just a blood prick.
Theranos quickly rose to prominence, becoming a Silicon Valley darling and at one point valued at more than $9 billion. The company also attracted investment from high-profile moguls, including Rupert Murdoch, the Walton family (heirs to the Walmart fortune) and former Education Secretary Betsy DeVos. Its board will grow to include former secretaries of state George Shultz and Henry Kissinger; two former US senators; and former Secretary of Defense James Mattis.
However, Theranos’ claims about what it could do began to crumble amid reports that the technology did not work as claimed and could deliver erroneous results.
In March 2018, Holmes was indicted along with Theranos Chief Operating Officer Ramesh “Sunny” Balwani by the Securities and Exchange Commission for securities fraud.
In the fall of 2022, both Holmes and Balwani, who was also convicted, were convicted. Experts said Balwani received a harsher sentence – nearly 13 years in prison – because of his experience running other businesses.
