Elizabeth Holmes, founder of Theranos Inc., arrives at the federal courthouse in San Jose, California, on March 17, 2023.
Benjamin Fanjoy | Bloomberg | fake images
Jailed Silicon Valley CEO Elizabeth Holmes has shaved more months off her initial sentence of more than 11 years for wire fraud and conspiracy, federal records show, and is due to be released two years earlier than expected.
Holmes, 40, has a current release date of Aug. 16, 2032, from a federal women's prison in Bryan, Texas, according to the Bureau of Prisons. Last July, her expected release date was listed as December 29, 2032.
The disgraced founder of failed blood testing company Theranos entered prison in May 2023 after being given a 135-month prison sentence for defrauding investors of hundreds of millions of dollars.
While the BOP declined to comment specifically on Holmes' status for privacy and security reasons, the agency said in a statement that “projected release dates are calculated taking into account several factors.” Inmates are eligible for “good behavior time,” and those who qualify can earn up to 54 days for each year of their court-imposed sentence. Additionally, inmates can have more time taken off their sentences by earning time credits that accrue when they complete certain prison and work programs, part of the federal government's way of reducing recidivism and easing the prison population.
Time credits are awarded over a 30-day period for programs related to anger management, mental health, financial literacy and other topics that seek to address behavior and instill personal skills. Once credits are calculated and it is determined that those credits equal the time remaining on the sentence, the inmate may be transferred out of prison to “pre-release custody,” such as a halfway house or home confinement. Some may also be eligible for supervised release, such as probation.
Supporters of the Trump-era law say they believe it can reduce particularly harsh sentences for nonviolent drug offenders and lessen racial disparities affecting people of color in the criminal justice system, although the calculation of the credits time has come under scrutiny in recent years.
Holmes is being held at FPC Bryan, a minimum-security prison camp where former “Real Housewives of Salt Lake City” star Jen Shah is serving her federal sentence for wire fraud for a telemarketing scam.
A lawyer for Holmes did not respond to a request for comment on his prison sentence.
Along with Holmes, Theranos COO Ramesh “Sunny” Balwani was also convicted in a separate trial for his role in the Theranos fraud, and was sentenced in December 2022 to nearly 13 years in prison.
Currently, he will be released on November 22, 2032 from a federal prison in Southern California, which would be two years earlier. than expected. His attorney declined to comment on his stay in prison.
Meanwhile, a federal appeals court in San Francisco will hear oral arguments for Holmes' appeal on June 11. The appeal will deal with “convictions, sentences and restitution orders” related to the case, according to the court calendar. Balwani is also supposed to hear his appeal case at that time.
After giving birth to her second child in early 2023, Holmes attempted to remain free on bail while appealing her conviction, but a judge denied that request.
Theranos, which said its technology could give users health data by analyzing blood with a single finger prick, became an emblematic example of startups that lured investors with false promises in the early 1990s. 2000. Holmes' rise as a Stanford University dropout turned Silicon Valley sensation was the subject of investigative reports and a television series seeking to scrutinize her dramatic story.
