Holmes reported to prison on May 30 of this year, which means she will serve only 9.5 years.
Elizabeth Holmes’ release date is now set for December 29, 2032, according to the Bureau of Prisons.
According to recently updated Bureau of Prisons data, disgraced Theranos founder Elizabeth Holmes is slated to be freed from jail on December 29, 2032, after serving approximately nine and a half years.
Holmes, whose iconic blood-testing firm failed in 2018, was convicted of fraud and conspiracy last year for making misleading statements to investors about the efficacy of blood-testing equipment. Holmes had marketed Theranos to investors as a revolutionary firm capable of doing hundreds of medical tests with only a drop of blood. In reality, the technology was unable to do so.
Holmes was sentenced to 11.25 years in prison and is scheduled to report to a minimum-security women’s prison in Bryan, Texas, on May 30, 2023. Holmes will be released on the day mentioned.
Because of federal legislation and prison standards, release date calculations are frequently complicated and take into account factors such as surrender date, jail-time credit, completion of substance treatment programmes, and credit for good behaviour. The Bureau of Prisons did not immediately respond to an inquiry from Insider on how Holmes’ release date was determined.
Ramesh “Sunny” Balwani, Holmes’ ex-boyfriend and Theranos’ second-in-command, received a similar sentence reduction. Balwani was sentenced to nearly 13 years in prison, but his sentence was reduced by roughly two years, and he will now serve only 11 years, according to his estimated release date.
During of their sentencing, Holmes and Balwani were forced to pay nearly $452 million in restitution. However, Holmes’ lawyers opposed to the reparation payment plan last month, claiming she would be unable to pay the $250 per month after her release from prison.
Holmes also unsuccessfully sought a stay of execution since her children are young. Her first child was born in July 2021 while she awaited trial, and her second child was born early this year, only months before she was scheduled to report to prison.