Elizabeth Holmes' prison term was just shortened by 2 years
Michael Wyke/Associated Press
- The Bureau of Prisons now lists Elizabeth Holmes' release date as December 29, 2032.
- Holmes reported to prison on May 30 this year, meaning she'll serve just 9.5 years.
- Holmes was convicted of fraud and conspiracy last year and sentenced to 11.25 years in prison.
The disgraced Theranos founder Elizabeth Holmes is scheduled to be released from prison on December 29, 2032, after she serves roughly nine-and-a-half years, according to recently updated Bureau of Prisons records.
Holmes, whose infamous blood-testing startup collapsed in 2018, was convicted last year of fraud and conspiracy related to false claims she made to investors about the effectiveness about blood-testing technology. Holmes had pitched Theranos to investors as a revolutionary company that could run hundreds of medical tests based on just a drop of blood. In reality, the technology was incapable of doing that.
Holmes was originally sentenced to 11.25 years in prison, and reported to a minimum-security women's prison in Bryan, Texas, on May 30, 2023. According to her listed release date, Holmes will spend nine years, six months, and 29 days in prison.
Due to federal law and prison policies, release date calculations are often tricky and factor in things like surrender date, jail-time credit, the completion of substance abuse programs, and credit for good behavior. The Bureau of Prisons did not immediately respond to Insider's request for comment on how Holmes' release date was calculated.
Ramesh "Sunny" Balwani, Holmes' ex-boyfriend and second-in-command at Theranos, received a similar reduction to his sentence. Balwani was originally sentenced to nearly 13 years in prison, but it was cut down by roughly two years and he will only serve 11 years, according to his projected release date.
As part of both Holmes' and Balwani's sentences, the pair was also ordered to pay over $452 million in restitution. But last month, Holmes' lawyers objected to the restitution-payment plan and said she would be unable to pay the $250 per month following her release from prison.
Holmes had also unsuccessfully fought to have her sentence postponed because her children are young. Holmes' first child was born in July 2021 while she awaited trial, and she gave birth to her second child earlier this year, just months before she was due to report to prison.