According to prison records, Elizabeth Holmes, the founder of Theranos, has managed to reduce her jail sentence by several months.
In January 2022, Holmes, 40, faced conviction on four counts of fraud and conspiracy. She had been found guilty of deceiving investors and misrepresenting the capabilities of her biotech company’s blood testing technology, resulting in the loss of millions of dollars.
She received an initial sentence of 11 years and is currently serving her time at Camp Bryan, a minimum-security federal prison located in Texas.
According to a report by The Independent in July 2023, Holmes is set to have her prison sentence reduced by almost two years. As a result, her projected release date is now December 29, 2023.
According to the Bureau of Prisons (BOP) database, Holmes is currently projected to be released on August 16, 3032.
Prisoners may be eligible for early release based on their good behavior, successful completion of substance abuse programs, or participation in productive activities, as stated by the BOP.
According to a spokesperson from The Independent, inmates receive a sentence discount of 54 days per year for meeting the good conduct requirements under the First Step Act.
Furthermore, prisoners have the opportunity to reduce their sentences even further by earning time credits. These credits are awarded for successfully completing specific prison and work programs, which are aimed at reducing the likelihood of reoffending and alleviating prison overcrowding.
The reasons behind Holmes receiving additional time off her sentence remain unclear.
Holmes’s representatives have been contacted by The Independent to gather more information regarding her reduced sentence.
In addition to serving prison sentences, Holmes and her former partner and Theranos COO Ramesh “Sunny” Balwani, who was convicted in a separate trial for 12 counts of fraud and conspiracy, have been ordered to repay victims $452 million.
She claimed that she had invented medical devices capable of diagnosing hundreds of diseases and medical conditions using only a small blood sample obtained through a pinprick.
However, it was later revealed that the blood testing technology did not deliver on its promised claims. As a result, the company faced a severe downfall, and in 2018, she was charged with fraud and conspiracy.
While at Camp Bryan, Holmes has formed a strong bond with former Real Housewives of Salt Lake City cast member Jen Shah, who is also incarcerated at the facility.
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