Theranos founder Elizabeth Holmes has had her sentence reduced by greater than 4 months, in keeping with the US Bureau of Prisons.
Holmes, 40, was sentenced to 11 years and three months in prison for defrauding investors in her now-defunct Palo Alto blood testing startup. On May 30 last yr, she began her sentence on the Bryan Federal Penitentiary Camp in Texas.
In July, the prison agency estimated her expected release date was Dec. 29, 2032. As of Monday, her expected release date from the minimum security facility is Aug. 16, 2032, the agency said.
Inmates can receive additional release from their sentence by participating in recidivism reduction programs and “productive activities.”
Holmes' previous scheduled release date was apparently based on a credit of 54 days for every year of her sentence, suggesting that the August 2032 date reflects participation in prison programs.
Scheduled release dates are subject to alter. In California state prisons, inmates convicted of nonviolent crimes can achieve this reduce their sentences by half through good behavior and participation in prison programs.
Holmes' fall from high-flying CEO, value billions on paper, to prisoner 24965-111 has attracted worldwide attention. In January 2022, after a four-month trial, she was convicted of 4 counts of fraud by a jury in U.S. District Court in San Jose. Jurors heard that Holmes misrepresented Theranos' financial condition and the performance of its problematic blood testing machines. Prosecutors put investors' losses at greater than $878 million. The jury convicted Holmes of roughly $144 million in losses.
Judge Edward Davila handed down her verdict in November 2022 and later ordered her to pay greater than $450 million in restitution.
The mother of two is appealing her conviction and sentence.
image credit : www.mercurynews.com