Disgraced Theranos founder Elizabeth Holmes' prison sentence shortened by 2 years
It seems that federal records indicate that Elizabeth Holmes, the individual who established the blood-testing facility Theranos, might have had her time in prison reduced by approximately two years.
Holmes, aged 39, arrived at a federal correctional facility in Bryan, Texas on May 30th to commence her 11-year and 3-month imprisonment due to her involvement in wire fraud at the now-closed organization.
A recent update on the inmate information section of the Bureau of Prisons' website displayed her projected release date as December 29, 2032. Consequently, she would be freed approximately two years earlier than anticipated.
A representative from the Federal Bureau of Prisons verified that Holmes is expected to be released on December 29, 2032.
They mentioned that they couldn't give any more information because of concerns about protecting privacy, safety, and security. However, they did mention that each prisoner has the opportunity to earn good conduct time, which is factored into their expected release date. Additionally, some prisoners may be eligible for early release through different methods.
The expected date of release seemed to match the BOP's "good time chart," which details the amount of credit an incarcerated person can earn based on their sentence.
Discover the total number of months the prisoner has been imprisoned (or will be imprisoned by January 20, 2017 when President Obama concludes his term) displayed in the column on the right side. Traverse to the leftmost column to determine the duration the inmate has been imprisoned (or will be imprisoned) taking into account the credit for good behavior, under the assumption that the prisoner has acquired (and will continue to earn) all of their good behavior credit. The Good Time Chart can be found in a BOP document which was previously featured in the publication Defending a Federal Criminal Case, released by Federal Defenders of San Diego.
Holmes was convicted on four charges of wire fraud in January 2022.
Almost two decades ago in 2003, she made the decision to leave Stanford University at the age of 19 in order to establish Theranos. This company aimed to detect various medical conditions using only a small drop of blood.
Theranos quickly gained fame, capturing the hearts of Silicon Valley and at one stage being estimated to be worth over $9 billion. The firm also managed to secure investments from esteemed tycoons such as Rupert Murdoch, the Walton family (descendants of the Walmart empire), and former Education Secretary Betsy DeVos. Its board of directors expanded to include experienced politicians such as ex-secretaries of state George Shultz and Henry Kissinger, two former senators, and former Defense Secretary James Mattis.
Nevertheless, the assertions made by Theranos regarding its capabilities started to disintegrate due to revelations that its technology did not function as purported and had the potential to provide inaccurate outcomes.
In March 2018, Holmes and Theranos' Chief Operating Officer Ramesh "Sunny" Balwani were accused of securities fraud by the Securities and Exchange Commission.
During the autumn of 2022, Holmes and Balwani, who was also found guilty, were given their sentences. Analysts noted that Balwani faced a more severe punishment, serving almost 13 years behind bars, due to his previous involvement in managing different enterprises.
Chantal Da Silva works as an editor for breaking news at NBC News Digital and is located in London.
