Elizabeth Holmes will be getting out of prison a little earlier than expected.
The founder of Theranos has had her sentenced shortened by nearly two years, according to the Federal Bureau of Prisons website. Her release date is currently slated for Dec. 29, 2032, which reduces her time in jail from her original sentence of 11 years and three months to nine years and seven months.
Holmes has been in prison for less than a month and a half so far, having reported to the minimum-security Federal Prison Camp in Bryan, Texas, on May 30. The Bureau of Prisons confirmed the new projected release date to Fortune, but said it could not provide specific details on release planning or release plans, citing the “privacy, safety, and security reasons” for inmates.
However, officials said, inmates can earn good conduct time for a number of acts, including taking part in programs and performing “productive activities,” which impacts their projected release date. Prisoners can also be released up to 12 months early if they complete the bureau’s residential drug abuse program. Inmates can also receive credit for time served for any incarceration prior to their sentencing date. Holmes was out on bail since her indictment, seemingly ruling out that last option. There’s no indication which, if any, of the other options Holmes has availed herself of.
Holmes was found guilty in 2022 of defrauding investors after Theranos’ “finger prick” blood-testing technology was exposed as a fraud. The company’s former president (and Holmes's former boyfriend) Ramesh "Sunny" Balwani was convicted separately, receiving a sentence of nearly 13 years.
Balwani has also seen his sentence reduced by almost two years, per the BOP website.
Holmes, prior to her incarceration, had attempted to convince the court to allow her to remain free while she appealed her case, to no avail. Beyond her prison sentence, Holmes was also ordered to pay $452 million to fraud victims in restitution. Her lawyers have argued that she now cannot afford the $250 per month payment after she finishes serving her term.
