Convicted fraudster Elizabeth Holmes' prison sentence shortened by two years

Elizabeth Holmes, the convicted fraudster, will be released from prison on 12 December 2032, two years earlier than originally expected. The Bureau of Prisons has updated her profile on their website to reflect the new release date. Holmes was found guilty in November 2022 on four counts of defrauding investors and was sentenced to 11 years and three months in prison. However, with the revised release date, she will now serve approximately nine years and seven months. A spokesperson for the Bureau of Prisons confirmed the update but declined to provide further details, citing inmate “privacy, safety, and security concerns” 

Holmes began serving her sentence at a minimum-security federal women's prison camp in Bryan, Texas.

She had been out on bail since she was indicted on fraud charges in 2018 over her role as the head of the failed blood-testing firm. During that time, she had two children with her partner, Billy Evans.

According to a statement from the Bureau of Prisons, inmates in the United States have the opportunity to have their sentences shortened for good conduct , which includes fulfilling job responsibilities, adhering to instructions, and successfully completing substance abuse programs and rehabilitation courses. However, any earned time can be taken away or surrendered in cases of disciplinary issues or other rule violations.

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The reduction seen by Holmes is in line with federal sentencing guidelines, which states that people convicted of federal offenses must serve 85% of their mandated sentence, even if they get time shaved off for good conduct.

Holmes' lawyers have not yet provided a comment in response to the request. The recent adjustment in her sentencing follows a similar reduction for her co-conspirator, Sunny Balwani. Balwani's sentence was shortened by two years, and his expected release date is now set for 1 April 2034, as stated on the Bureau of Prisons website.

Holmes and Balwani were found guilty in separate trials for their roles as leaders of Theranos, a biotech company worth billions of dollars. However, the company faced a dramatic collapse after investigations by the Wall Street Journal and other sources exposed the fraudulent nature of its technology.

The lawyers representing the government prosecution did not respond to the comment request right away. Once her sentence is over, Holmes will have three years of supervised release. She has also been ordered by the court to pay $452 million to compensate the victims of the fraud. However, the judge has postponed these payments because Holmes currently doesn't have enough money.

Lawyers for Holmes have appealed her conviction, and the legal proceedings for that appeal are ongoing while she remains in prison.