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Crime News

Theranos Founder Elizabeth Holmes to be Released Two Years Early from Prison

The Federal Bureau of Prisons updated the prison release date of former Theranos CEO Elizabeth Holmes to December 29, 2032.

By Elisabeth Ford
The Theranos and Elizabeth Holmes Case, Explained

Disgraced former Theranos CEO Elizabeth Holmes is set to be released two years early from prison, according to federal records.

Holmes, 39, reported to a Texas prison camp May 30 to begin her sentence of 11 years and three months for her fraudulent activity related to her now-defunct blood-testing company Theranos.

The Bureau of Prisons' online database now lists Holmes’ release date to be Dec. 29, 2032, roughly two years shorter than her original sentence.

RELATED: Elizabeth Holmes Ordered To Pay $452 Million, Loses Bid To Delay Prison Sentence

A Federal Bureau of Prisons spokesperson confirmed to NBC News that Holmes now has a projected release date of Dec. 29, 2032, but would not comment further on the matter due to “privacy, safety and security reasons.”

The spokesperson noted that every inmate can earn good conduct time, which is "projected in their projected release date," while some inmates can be eligible for early release through a range of other factors.  

Elizabeth Holmes G

Holmes was convicted in January 2022 on four counts of fraud and conspiracy for overseeing a blood-testing sham that she started was she was a 19-year-old college dropout.

Holmes, along with her former romantic partner and COO of Theranos, Ramesh “Sunny” Balwani, promised an emerging technology that would revolutionize health care. Theranos’ product was touted as an innovative blood-testing technology that could scan for hundreds of diseases and other potential health problems with the prick of a finger, according to the Associated Press.

RELATED: Theranos Founder Elizabeth Holmes' Request To Remain Free On Bail Denied By California Judge

At one point, Theranos was valued at more than $9 billion and the Silicon Valley-based company attracted prominent business tycoons to invest, like Rupert Murdoch and the Walton family (heirs to the Walmart fortune), according to NBC News. The company’s board of directors included an influential lineup, including former Presidential cabinet members George Shultz, Henry Kissinger and James Mattis.

By March 2018, however, Holmes and Balwani, 57, were charged with securities fraud after Theranos was accused of misleading investors and patients about the capabilities of the blood-screening technologies.

Elizabeth Holmes Ramesh Sunny Balwani G

During her trial, Holmes denied committing the crimes, claiming to the jury, at one point, that she was emotionally and sexually abused by Balwani, which clouded her judgment, according to the AP. Balwani’s attorneys strongly denied those claims in his separate trial.

RELATED: Elizabeth Holmes' Attorneys Say She Gave Birth To Second Child In Continued Bid To Keep Her Out Of Prison

Both Holmes and Balwani were sentenced in the fall of 2022. Balwani receivied a longer sentence, and his prison time also looks to have been reduced by almost two years, according to the Bureau of Prisons.

Holmes has been incarcerated for less than a month-and-a-half, being held in a women’s Federal Prison Camp in Bryan, Texas, approximately 100 miles from Houston.

Prior to her incarceration, Holmes requested to remain free on bail while she appeals her wire fraud conviction, which a California federal judge denied.

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