Disgraced Theranos co-founder Elizabeth Holmes’ prison sentence has been reduced by two years, according to the Bureau of Prisons records. Holmes was sentenced to 11 years and three months in prison for defrauding investors by claiming her blood-testing company provided quick and reliable results but she was found to have lied about the reliability of those tests.
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Holmes surrendered to the Bureau of Prisons in California on May 30 to serve out her sentence at a minimum-security all-female federal prison camp in Bryan, Texas. Less than two months after she reported to prison, her sentence was quietly changed, with her new release date scheduled for December 29, 2032, the Bureau’s site says. The Bureau has not provided additional information for why Holmes’ projected release date was shortened, but its site says an inmate’s good behavior, substance abuse program completion, and time credits they receive for activities and programs they’ve completed can result in a lessened sentence.
Only last month, Theranos’ former president and chief operating officer Ramesh “Sunny” Balwani’s 13-year sentence was likewise reduced by two years, making his new projected release date April 11, 2034.
In addition to their prison sentences, Holmes and Balwani were also ordered to pay more than $452 million in restitution. Holmes, who once boasted of having $4.5 million at the height of her supposed success, now claims to have no money, and her lawyers objected to the restitution, saying...
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