Elizabeth Holmes, the founder of Theranos, looks to have had her prison term for misleading investors reduced by close to two years. Holmes is expected to be released on December 29, 2032, according to the Bureau of Prisons’ (BOP) database, nine years and seven months after she surrendered to the federal Camp Bryan prison in Texas’ minimum security on May 30, this year.
It is unknown why the 39-year-old mother of two—identified as federal prisoner 24965-111—had her sentence suddenly reduced from 11 years and 3 months. A BOP representative informed The Independent that owing to privacy and security concerns, they were unable to comment on the specific inmate’s release plans.
BOP said, inmates who behave well, finish drug rehabilitation programs, or gain credit for “productive activities” may be released early. Every prisoner receives a sentence reduction of 54 days annually for each year they are judged to have complied with First Step Act standards for good behavior.
As per the spokeswoman, these are automatically projected into their release dates. A court order may also be used by prisoners to request early release or mercy on compassionate grounds related to old age and medical issues.
Inmates who successfully complete a residential drug abuse program may be eligible for release up to 12 months earlier. In January 2022, Holmes was found guilty on four counts of fraud and conspiracy for making false claims about the capabilities of the blood testing technology used by her biotech company and defrauding investors of millions of dollars.
She tried every available legal avenue to have the start of her prison term postponed after being given an 11 years, 3-month sentence in November of last year.
Take a look at the below tweet about Elizabeth Holmes’s prison term getting shortened by two years:
Disgraced Theranos founder Elizabeth Holmes gets prison term shortened by two years https://t.co/HMPZKu2YZg pic.twitter.com/gwXvqE8A1m
— The Messenger (@TheMessenger) July 11, 2023
From behind bars, she keeps contesting her sentence and conviction. In addition, $452 million in restitution to victims was imposed for Holmes and Ramesh “Sunny” Balwani, her ex-partner and the Theranos COO who was found guilty of 12 charges of fraud and conspiracy in a separate trial.
Rupert Murdoch, who is owed $125 million, and the former Secretary of Education Betsy DeVos were among the out-of-pocket investors. Holmes stated in June that she was unable to make the $250 monthly restitution payment. At the age of 19, Holmes left Stanford University to start Theranos.
She claimed to have created diagnostic tools that required only a pinprick of blood to identify hundreds of diseases and medical disorders. High-profile investors and board members joined Theranos, including former Cabinet Secretary James Mattis, Henry Kissinger, and George Shultz.
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After Theranos was valued at $9 billion, she was dubbed the world’s youngest self-made billionaire at the age of 30. But when it became clear that the blood testing technology did not function as she had stated, the business collapsed, and in 2018 she was charged with fraud and conspiracy.
Prosecutors said her crimes were among the “most significant white collar offenses Silicon Valley or any other district has seen” at her sentencing last year. Billy Evans, Holmes’ husband, and their two children, William, age two, and Invicta, age four months, are allowed to visit Holmes.
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