Theranos fraudster Elizabeth Holmes has prison sentence reduced again | Elizabeth Holmes

Elizabeth Holmes, the disgraced former chief executive of the blood-testing company Theranos, has had her federal prison sentence shortened again, new records show.

The 40-year-old Holmes is now scheduled for release on 16 August 2032 from a federal women’s prison camp in Bryan, Texas, according to the US Bureau of Prisons website.

Holmes’s sentence was reduced by more than four months, as her previous release date was set for 29 December 2032.

A spokesperson for the Bureau of Prisons confirmed Holmes’s amended sentence to the Guardian but said he could not comment further due to “privacy, safety and security reasons” for inmates.

This is the second time that Holmes has had her sentence shortened. In July, was reduced by two years.

People incarcerated in the US can have their sentences shortened for good conduct and for completing rehabilitation programs, such as a substance abuse program.

The latest reduction of Holmes’s sentence still meets federal sentencing guidelines. Those guidelines mandate that people convicted of federal offenses must serve at least 85% of their sentence, regardless of reductions for good behavior.

In 2022, Holmes was sentenced to 11 years and three months in prison after being convicted on four counts of defrauding investors.

She was also ordered to pay $452m in restitution to those she defrauded, but a judge delayed those payments due to Holmes’s “limited financial resources”.

Holmes’s lawyers have already begun attempts to get her conviction overturned. Oral arguments for her appeal are set to begin on 11 June in a federal appeals court in San Francisco, California, NBC News reported.

skip past newsletter promotion

Holmes founded Theranos, a multibillion-dollar biotech startup that claimed it could run blood tests with only a single drop of blood.

Once hailed as a biotech innovator, Holmes as well as Sunny Balwani, her co-executive and former romantic partner, faced legal consequences after reporting from the Wall Street Journal and others found that the technology used by Theranos was fraudulent.

Balwani was convicted in a separate trial for his actions in the Theranos scheme, and he was sentenced to 13 years in prison.

He also had two years reduced from his sentence in July and will be released from federal prison on 1 April 2034, according to the prisons bureau website.

You may also like

Leave a Reply

Your email address will not be published. Required fields are marked *