Elizabeth Holmes’ Prison Sentence Was Just Quietly Reduced, Theranos Co-Founder to Be Released Early

Less than a year after the infamous Theranos CEO Elizabeth Holmes was sentenced to more than 11 years in jail, her sentence was quietly reduced by two years. 

As those who followed the Theranos saga know (or watched the show), Holmes’ defense over defrauding investors in her medical startup was that she was involved in an abusive relationship with her partner, Sunny Balwani.

That didn’t seem to sway the judges then but now it seems she will serve less time. 

For those who forgot, this is also after she was allowed to stay at home in her mansion while waiting for a sentence.

From a Gizmodo report:

“Disgraced Theranos co-founder Elizabeth Holmes’ prison sentence has been reduced by two years, according to the Bureau of Prisons records. Holmes was sentenced to 11 years and three months in prison for defrauding investors by claiming her blood-testing company provided quick and reliable results but she was found to have lied about the reliability of those tests. Holmes surrendered to the Bureau of Prisons in California on May 30 to serve out her sentence at a minimum-security all-female federal prison camp in Bryan, Texas.

Less than two months after she reported to prison, her sentence was quietly changed, with her new release date scheduled for December 29, 2032, the Bureau’s site says. The Bureau has not provided additional information for why Holmes’ projected release date was shortened, but its site says an inmate’s good behavior, substance abuse program completion, and time credits they receive for activities and programs they’ve completed can result in a lessened sentence. Only last month, Theranos’ former president and chief operating officer Ramesh “Sunny” Balwani’s 13-year sentence was likewise reduced by two years, making his new projected release date April 11, 2034.”

As for how Elizabeth Holmes is handling life in prison?

“Holmes is serving out her remaining nine-year sentence at FPC Bryan, an all-female prison camp, where the women adhere to a strict schedule requiring them to begin work at 6 a.m. each day. Those who are considered eligible to work are assigned jobs earning between 12 cents and $1.15 an hour in roles like food service and factory employment.”

Considering  Holmes and Balwani were also ordered to pay more than $452 million in restitution, her future does not seem very bright.

If you missed the full Theranos story, you can always check out the dramatic mini-series The Dropout on Hulu.

Also read: Technology Movies: The Ultimate Geek Guide for the Best Tech Movies and Shows You Need to Watch