San Francisco – Elizabeth Holmes, the disgraced former CEO of Theranos, may be released nearly two years earlier than expected from her more than 11-year prison sentence for defrauding investors with her blood-testing scam, federal officials confirmed on Tuesday.
According to the U.S. Bureau of Prisons, Holmes, 39, is now projected to leave the Bryan, Texas, prison on December 29, 2032. This early release comes after serving 115 months, or just over 9 1/2 years, of her sentence of 11 years and three months, as ordered by U.S. District Judge Edward Davila in November of last year.
Holmes’ conviction of four counts of fraud and conspiracy came after a high-profile trial in San Jose, California, that captivated Silicon Valley for several months.
While her prison sentence remains unchanged, Holmes, like all well-behaved inmates, is eligible for early release under the federal government’s “good time” guidelines. Her anticipated release date, a few weeks before her 49th birthday, aligns with the length of her sentence.
Legal experts had previously speculated that Holmes might be able to secure her release from federal prison in around nine years at the time of Davila’s sentencing.
Release Dates for Elizabeth Holmes and Ramesh “Sunny Balwani”
The Bureau of Prisons has declined to provide specific reasons for Elizabeth Holmes’ projected release date, citing “privacy, safety, and security reasons.” It is noted that every inmate earns good conduct time, which contributes to their projected release date.
Elizabeth Holmes’ former lover and top lieutenant at Theranos, Ramesh “Sunny Balwani,” is also on track for an early release from his nearly 13-year prison sentence. Balwani was convicted last year on 12 counts of fraud and conspiracy in a separate trial. According to the Bureau of Prisons, Balwani’s projected release date is April 1, 2034, which is almost 11 years after he began serving his sentence at a Southern California prison.
Both Holmes and Balwani, aged 57, are optimistic about getting out even earlier as their lawyers pursue appeals to overturn their convictions.
Although they had separate trials, Holmes and Balwani were accused of the same crimes. These crimes revolved around a ruse that promoted Theranos’ blood-testing system as a groundbreaking development in healthcare. These false claims propelled the company to become a sensation in Silicon Valley, attracting nearly $1 billion from investors. At one point, Holmes even gained a personal fortune of $4.5 billion based on her 50% stake in Theranos.
