Theranos founder Elizabeth Holmes' prison time gets shortened — again
Michael Wyke/Associated Press
- Theranos founder Elizabeth Holmes has once again had her prison time shortened.
- She got a few more months trimmed off for a new projected release date of August 16, 2032.
- She was originally sentenced to 11.25 years, but soon after reporting to prison her projected release date moved up 2 years.
Elizabeth Holmes' prison time is getting shorter, again.
The 40-year-old Theranos founder is now projected to be released a few months earlier. Her projected release date is now August 16, 2032, a change from her previously listed December 29 projected release for later that same year, according to Federal Bureau of Prisons records.
NBC News first reported the development.
Holmes was sentenced to 11.25 years in prison in 2022 after being found guilty on four counts of fraud and conspiracy following a monthslong trial that gripped Silicon Valley. She reported to a federal women's prison in Bryan, Texas, in May 2023 to begin her sentence.
Her prison time had previously been shortened by roughly two years, shortly after she reported to the minimum-security compound.
Attorneys for Holmes did not immediately respond to Business Insider's requests for comment ahead of publication. The Federal Bureau of Prisons said it could not comment on the release plans of any specific individual in its custody "for privacy, safety, and security reasons" but said prison time could be affected by factors like good conduct or completion of rehabilitation programs or activities.
Holmes has also been ordered to pay more than $452 million in restitution as part of her sentence. Her attorneys have objected to the restitution payments and said she would be financially unable to pay it.
Holmes was seen as a Silicon Valley success story for years while at the helm of her now-defunct blood-testing startup Theranos, which promised to revolutionize healthcare by performing hundreds of tests with a single drop of blood. Behind closed doors, however, Theranos' proprietary technology didn't work and the company leaned on third-party devices to run its blood tests. Prosecutors alleged that Holmes defrauded investors, doctors, and patients by concealing this for years before a blockbuster Wall Street Journal exposé uncovered the fraud in 2015.
Holmes pleaded not guilty to the charges, and her attorneys argued during the course of her trial that while she made mistakes, none were crimes.
"I am devastated by my failings," she said at a sentencing hearing in November 2022. "Every day for the past few years I have felt deep pain for what people went through because I failed them."