Elizabeth Holmes gets two-year reduction in 11-year prison sentence

New records show that Elizabeth Holmes’ prison sentence has quietly been reduced by two years.

The updated profile of Holmes on the Bureau of Prisons website now predicts her release date as December 12, 2032, two years earlier than originally anticipated. A spokesperson for the federal agency confirmed the update but stated that he could not provide further comment due to “privacy, safety, and security” reasons for the prisoners.

Holmes reported to a federal women’s minimum-security prison in Bryan, Texas, on May 30 after being convicted in November 2022 on four counts of defrauding investors and sentenced to 11 years and three months. Her new release date means that instead, she will serve approximately nine years and seven months.

She has been on house arrest since being indicted for fraud in 2018 as the CEO of a failed blood-testing company. During that time, she had two children with her partner, Billy Evans.

The Bureau of Prisons stated in a statement that prisoners in the U.S. may be eligible for sentence reductions if they exhibit good behavior, including fulfilling assigned tasks, obeying orders, and completing addiction treatment and other rehabilitation programs. The time achieved can also be revoked or canceled due to disciplinary concerns or other violations.

The reduction Holmes received is in line with federal sentencing guidelines, which mandate that federally convicted individuals must serve 85% of their mandatory sentence, even if they are granted time off for good behavior.

Holmes’ lawyers did not immediately respond to requests for comment. The change in the sentence comes after her co-defendant, Sunny Balwani, also had his 13-year sentence reduced by two years, with a projected release date of April 1, 2034, according to the Bureau of Prisons website.

Holmes and Balwani were separately convicted for their actions at the helm of Theranos, a multibillion-dollar biotech company that spectacularly collapsed after reports from The Wall Street Journal and others revealed their technology was largely fraudulent.

Government prosecutors’ lawyers for the prosecuting groups did not immediately respond to requests for comment. Holmes will also face three years of supervised release after the completion of her sentence and has been ordered to pay $452 million in restitution to victims of the fraud, although a judge has postponed those payments due to her “limited financial resources.”

Holmes’ lawyers have appealed her conviction, and the appellate proceedings for that process have been underway while she serves her sentence.

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