Disgraced Theranos founder Elizabeth Holmes will be released from prison on December 29, 2032, after serving nearly nine and a half years, according to recently updated Bureau of Prisons records. Holmes, whose notorious blood-testing startup crumbled in 2018, was convicted of fraud and conspiracy last year.
She made false claims to investors regarding the efficacy of the blood-testing technology. Holmes had presented Theranos as a groundbreaking company capable of conducting numerous medical tests with a mere drop of blood. Still, in truth, the technology could not deliver on that promise.
Initially sentenced to 11.25 years in prison, Holmes commenced her sentence by reporting to a minimum-security women’s prison in Bryan, Texas, on May 30, 2023. As per the listed release date, she is expected to spend approximately nine years, six months, and 29 days behind bars.
Determining release dates can be complex due to federal laws and prison regulations, which consider various factors such as the surrender date, credit for time served, completion of substance abuse programs, and recognition of good behavior. The Bureau of Prisons has not yet responded to Insider’s inquiry regarding the specifics of how Holmes’ release date was calculated.
Ramesh “Sunny” Balwani, Elizabeth Holmes’ former boyfriend and second-in-command at Theranos, experienced a similar reduction in his prison term. Initially sentenced to nearly 13 years, his sentence was shortened by approximately two years, resulting in an 11-year projected release date.
As part of their sentences, both Holmes and Balwani were also ordered to pay restitution totaling over $452 million. However, Holmes’ legal team recently objected to the payment plan, arguing that she would be unable to meet the requirement of $250 per month after her release from prison.
Holmes also made an unsuccessful attempt to have her sentence postponed due to the young age of her children. Her first child was born in July 2021 while awaiting trial, and she gave birth to her second child earlier this year, just a few months before she was scheduled to report to prison.
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