Imprisoned Silicon Valley CEO Elizabeth Holmes has several months shaved off her original sentence of more than 11 years for wire fraud and conspiracy, federal records show, and is expected to be released two years earlier than expected.
Holmes, 40, is currently being released on August 16, 2032 from a federal women’s prison in Bryan, Texas, according to the Bureau of Prisons. Last July, its scheduled release date was December 29, 2032.
The disgraced founder of Theranos, a failed blood testing startup, entered prison in May 2023 after being sentenced to 135 months in prison for defrauding investors of hundreds of millions of dollars.
Although the BOP declined to comment specifically on Holmes’ status due to privacy and security concerns, the agency said in a statement that “anticipated release dates are calculated taking several factors into consideration.” Eligible offenders can earn up to 54 days for each year of sentence imposed by the court. Additionally, inmates can receive more time off their sentences by earning time credits that accumulate when they complete certain prison and vocational programs, part of the federal government’s efforts to reduce recidivism and reduce the prison population.
Time credits are awarded over a 30-day period for programs related to anger management, mental health, financial literacy and other topics that seek to address behavior and instill personal skills . Once the credits are calculated and it is determined that the credits are equal to the remaining time served, the inmate may be transferred out of prison to “pre-release detention,” such as a halfway house or home detention. . Some may also be eligible for supervised release such as probation.
Supporters of the Trump-era law say it can reduce particularly harsh sentences for nonviolent drug offenders and ease racial disparities affecting people of color in the criminal justice system, even if the calculus time credits has come under scrutiny in recent years.
Holmes is being held at FPC Bryan, a minimum-security prison camp where former “Real Housewives of Salt Lake City” star Jen Shah is serving her federal sentence for wire fraud for a telemarketing scam.
An attorney for Holmes did not respond to a request for comment on his prison sentence.
Alongside Holmes, Theranos COO Ramesh “Sunny” Balwani was also convicted in a separate trial for his role in the Theranos fraud, and was sentenced in December 2022 to nearly 13 years in prison.
He is currently scheduled to be released on November 22, 2032 from a federal prison in Southern California, two years earlier than expected. His lawyer declined to comment on his prison sentence.
Meanwhile, a federal appeals court in San Francisco is scheduled to hear oral arguments in support of Holmes’ appeal on June 11. The appeal will focus on “convictions, sentences and restitution orders” related to the case, according to the court calendar. Balwani is also expected to have his appeal case heard at that time.
After giving birth to her second child in early 2023, Holmes attempted to remain free on bail while appealing her conviction, but a judge denied that request.
Theranos, which claimed its technology could provide data on users’ health by testing blood from a single finger prick, became emblematic of startups that lured investors with false promises in the early 2000s. Holmes’ rise as a Stanford University dropout turned Silicon Valley sensation was the subject of investigative reports and a television series that sought to examine her dramatic story.
This article was originally published on NBCNews.com
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