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Theranos CEO Elizabeth Holmes has federal prison sentence reduced again

Holmes was initially sentenced to 11 years and three months in federal prison for conspiracy and fraud charges.
Elizabeth Holmes walks into federal court in 2021.
Posted at 10:08 PM, May 07, 2024

Elizabeth Holmes, the disgraced founder of blood-testing company Theranos, is getting out of prison earlier than expected — again.

The Bureau of Prisons' online database now shows the 40-year-old is set to be released on Aug. 18, 2032, cutting four months off the slashed sentence she received last year.

This marks Holmes' second reduction since she began her 11-year-and-three-month sentence at Federal Prison Camp Bryan, a minimum-security women's facility, on May 30, 2023. In July, her sentence was reduced by two years and her release set for Dec. 29, 2032.

Elizabeth Holmes is shown.


Elizabeth Holmes' prison sentence cut by 2 years

Alex Arger
6:15 PM, Jul 10, 2023

Now with the Bureau's updated release date, Holmes will have served nine years and almost three months at the time of her release.

It's unclear why Holmes' sentence was shortened either time; the Bureau did not respond to a request for comment by Scripps News. But inmates can be released early for a variety of reasons like good conduct, jail-time credit, rehabilitation program completion, etc.

The former Silicon Valley star was convicted in November 2022 on counts of conspiracy and fraud related to her company, Theranos.

Holmes had claimed the company's groundbreaking technology could run hundreds of medical tests with just a finger prick and a drop of blood, but the technology actually couldn't produce accurate results. The false claims earned the company nearly $1 billion in funding, but they also contributed to Holmes' trial, in which prosecutors accused her of defrauding investors out of more than $700 million.

She continued to deny the crimes during trial, though she admitted to making mistakes during the company's run. She and former boyfriend and Theranos COO Ramesh "Sunny" Balwani were ultimately ordered to pay $452 million in restitution to the defrauded investors.

Holmes has been ordered to pay up to $250 per month to Theranos' victims, though her attorneys argued she shouldn't have to pay due to "limited financial resources." It's possible Holmes could hold a job at the prison camp, making wages likely under $2 per hour.