Elizabeth Holmes Quietly Gets Two Years Off Her Sentence

Disgraced Theranos founder Elizabeth Holmes is set to have her prison sentence shortened by approximately two years, according to federal records. 

Holmes, aged 39, began her 11-year, three-month sentence for wire fraud at a federal prison in Bryan, Texas on May 30. The Bureau of Prisons’ website recently updated Holmes’ inmate details, indicating that her expected release date is now December 29, 2032. This suggests that she will be released about two years ahead of schedule.

A spokesperson for the Federal Bureau of Prisons confirmed Holmes’ revised projected release date but declined to provide further comment due to privacy, safety, and security reasons. The spokesperson did mention that inmates have the opportunity to earn good conduct time, which is factored into their projected release date. Some inmates may also be eligible for early release through other mechanisms.

The Bureau of Prisons’ “good time chart” appears to be in line with Holmes’ projected release date, outlining the amount of good time credit inmates can earn based on their sentences. She was found guilty of four counts of wire fraud in January 2022, and was given her sentence the following November.

Holmes rose to prominence almost two decades ago when she dropped out of Stanford University at the age of 19 to launch Theranos, a blood-testing firm aiming to diagnose medical conditions using only a small amount of blood. 

The company quickly gained attention and was, at its peak, valued at over $9 billion, attracting investment from notable figures such as Rupert Murdoch, the Walton family, and Betsy DeVos. However, Theranos faced significant setbacks when reports revealed that its technology was flawed and produced inaccurate results.

In 2018, Holmes and Theranos’ former Chief Operating Officer, Ramesh “Sunny” Balwani, who is also her former lover, were charged with securities fraud by the Securities and Exchange Commission. 

Balwani began serving a nearly 13-year sentence in April this year. In May, Holmes and Balwani were jointly ordered by a lower court to pay a sum of $452 million in restitution to investors. Among the investors on the list are media mogul Rupert Murdoch, who is entitled to $125 million, Walgreens with $40 million, and Safeway with $14.5 million.

During the course of the trial, Holmes began a relationship with now-husband Billy Evans and had two children, 2-year-old William and 4-month-old Invicta, who were born before her conviction and before her sentencing.

Information for this story was found via NBC News, BOP, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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