Theranos fraudster has prison sentence shortened by two years

Jul 11, 2023

Disgraced Theranos founder Elizabeth Holmes has had two years knocked off her prison sentence.

Holmes, 39, is behind bars in Texas for overseeing an infamous blood-testing hoax.

The fraudster started her 11-year sentence in May – but an update to her prison records shows she is now due to be released two years ahead of schedule.

A spokesperson for the Federal Bureau of Prisons confirmed to Sky News that Holmes’ projected release date is 29 December 2032.

The Bureau said it could not comment further on individuals due to “privacy, safety, and security reasons”.

However, the spokesperson said prisoners could see their sentences reduced for good conduct and participating in “productive activities” or programmes designed to reduce reoffending.

Prisoners may also have their sentence reduced because of time spent locked up before sentencing.

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Last year, a jury convicted Holmes on four felony counts of fraud and conspiracy.

It marked the bottom of a dizzying descent for Holmes – from Silicon Valley sensation and America’s youngest self-made female billionaire, to a jailed pariah.

Holmes launched Theranos with the promise of delivering revolutionary blood-testing technology, raising millions from high-profile investors.

But the tech was exposed as bogus and the company – once valued at $9bn (£7.3bn) – quickly came crashing down.

Since her guilty verdict last November, Holmes has launched a series of bids aimed at keeping her out of jail.

In May, she was also ordered to pay $452m (almost £363m) to victims of her crimes.

She is jointly liable for the restitution penalty with her former lover and Theranos second-in-command, Ramesh “Sunny” Balwani, who is already in prison after being convicted on a broader range of offences in a separate trial.

Balwani has also had two years shaved off his sentence and is now scheduled to be released in 2034.

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