Elizabeth Holmes has more time cut off her sentence
Disgraced Theranos founder's release date moved up, prison records show
Mintz & Gold partner Ira Lee Sorkin discusses the Elizabeth Holmes fraud case as the former Theranos founder reports to prison on The Claman Countdown.
Theranos founder and convicted felon Elizabeth Holmes has had more time cut from her prison sentence, after her original release date was slashed by nearly two years last summer.
Holmes, 40, was originally ordered to serve more than 11 years behind bars after she was found guilty in January 2022 of four counts of fraud and conspiracy for deceiving investors in her now-defunct blood-testing company.
Elizabeth Holmes arrives at Federal Prison Camp Bryan in Bryan, Texas, on May 30, 2023. (Sergio Flores/Bloomberg via Getty Images / Getty Images)
The former tech executive is serving her time at Federal Prison Camp Bryan, a women-only low-level security facility located in Bryan, Texas.
In July 2023, the Bureau of Prisons' (BOP) website showed her release date had been moved up to Dec. 29, 2032, just over 9.5 years after she checked into the prison on May 30 of that year.
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Now, the BOP's records show four more months have been shaved off her time, with an updated release date of Aug. 16, 2032.
"For privacy, safety, and security reasons, our office does not comment on the conditions of confinement for any inmate, including release planning or release plans. However, we can provide the following general information," the Federal Bureau of Prisons told Fox Business.
Federal Prison Camp Bryan in Bryan, Texas, on May 30, 2023. (Sergio Flores/Bloomberg via Getty Images / Getty Images)
The Bureau said inmates are eligible to earn good conduct time that can impact the projected release date. Certain inmates are also given the opportunity to participate and complete recidivism programs as well as drug abuse programs which help inmates release early.
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Holmes quickly rose to stardom in Silicon Valley after she dropped out of Stanford University to launch Theranos at the age of 19. She amassed hundreds of millions of dollars, boasting to investors that her company could successfully diagnose many diseases with drops of blood.
Elizabeth Holmes, founder and former CEO of Theranos, arrives for a motion hearing on Nov. 4, 2019, at the U.S. District Court House inside Robert F. Peckham Federal Building in San Jose, California. (Photo by Yichuan Cao/NurPhoto via Getty Images / Getty Images)
The empire she built came crashing down in 2015, however, after The Wall Street Journal reported her company was not using innovation, but traditional machines for its testing. The outlet also reported flaws in the diagnostics, further stifling her company’s claims.
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Holmes was indicted in 2018 alongside Theranos chief operating officer and former boyfriend Ramesh "Sunny" Balwani, who was found guilty of 12 counts of fraud.
Judge Edward Davila of the United States District Court for the Northern District of California sentenced both Holmes and Balwani, ordering them to pay some $452 million in restitution to the victims of their crimes.
FOX Business' Lawrence Richard contributed to this report.