Elizabeth Holmes, the disgraced former CEO of Theranos, has quietly received a reduction of two years from her prison sentence, as revealed by new records. The Bureau of Prisons’ website now reflects Holmes’ updated release date as December 12, 2032, which is two years earlier than originally scheduled. A spokesperson for the federal agency acknowledged the modification but declined to provide further details, citing concerns related to “privacy, safety, and security” for inmates.
Following her conviction in November 2022 on four counts of defrauding investors, Holmes reported to a minimum-security federal women’s prison camp in Bryan, Texas, on May 30. Initially sentenced to 11 years and three months, the revised release date means she will serve approximately nine years and seven months in prison.
Prior to her incarceration, Holmes had been out on bail since her indictment on fraud charges in 2018, during which time she had two children with her partner, Billy Evans. In the United States, inmates can have their sentences reduced for exhibiting good conduct, such as fulfilling job assignments, complying with orders, and participating in substance abuse programs and other rehabilitation courses, according to the Bureau of Prisons. However, gained time can be forfeited or revoked in response to disciplinary issues or other infractions.
The reduction in Holmes’ sentence aligns with federal sentencing guidelines, which mandate that individuals convicted of federal offenses must serve at least 85% of their designated sentence, even if they earn time reductions for good behavior.
Lawyers representing Holmes have not yet provided a comment regarding this sentencing change. It is worth noting that Holmes’ co-conspirator, Sunny Balwani, also had two years shaved off his 13-year sentence, resulting in a projected release date of April 1, 2034, as indicated on the Bureau of Prisons’ website.
Holmes and Balwani were separately convicted for their involvement at the helm of Theranos, a once-multibillion-dollar biotech company that spectacularly collapsed after investigations by outlets like the Wall Street Journal exposed the fraudulent nature of its technology.
Government prosecutors involved in the cases have not responded immediately to requests for comments. Following the completion of her sentence, Holmes will face three years of supervised release and has been ordered to pay $452 million in restitution to victims of the fraud, although the judge has postponed those payments due to her limited financial resources.
While Holmes’ lawyers have initiated an appeal process against her conviction, the proceedings are ongoing as she serves her sentence.