Elizabeth Holmes, Former Theranos CEO, Granted Early Release from Prison by 2-Year Margin

Former Theranos CEO Elizabeth Holmes will be released from jail two years ago, according to online records. It was determined that the convicted former Theranos CEO, Elizabeth Holmes, is now scheduled for imminent release.

In November 2022, the former biotech entrepreneur from California was sentenced to 11 years and three months in prison for defrauding investors in a failed Silicon Valley startup claimed to revolutionize blood testing.

On Tuesday, it was revealed from the Federal Bureau of Prisons’ records that Homes’sentence had been reduced by nine years, setting the date of her designated release to December 23, 2032, which means she will be released two years earlier.

On May 30, 39-year-old Holmes was reported to be in a minimum-security federal women’s prison in Bryan, Texas.

Holmes’ prison delay: The mother of two children, former Theranos CEO Elizabeth Holmes, wants to delay her prison sentence during her appealElizabeth.

Why is Elizabeth Holmes being released early?

A spokesperson for the federal agency confirmed the parole cut on Tuesday to USA Today but said they could not provide further details about Holmes’ imminent release due to “privacy, security, and safety reasons.”

According to a statement safety from the federal agency, some individuals may be eligible for early release through court orders, such as compassionate release due to advanced age and medical conditions or clemency.

The Bureau stated in a statement that sentence reductions are possible for good behavior, which includes completing job assignments and substance abuse programs.

The agency also mentioned that earned time could be revoked for disciplinary concerns or other infractions.

Amazon employee jailed for theft: A former Amazon employee was sentenced to 16 years in prison for allegedly stealing nearly $10 million.

In what case was Elizabeth Holmes found guilty?

Holmes, who was found guilty in January 2022, dropped out of Stanford University at the age of 19 to start Theranos, a medical diagnostics company in 2003. Its mission was to revolutionize blood testing by requiring only a small drop of blood for conducting a wide range of high-volume medical tests.

The company grew to be worth over $9 billion, attracting investors such as Oracle co-founder Larry Ellison, media mogul Rupert Murdoch, and the Walton family, founders of Walmart.

Holmes and her former romantic partner, Ramesh “Sunny” Balwani, allegedly lied about the technology, the company’s finances, and partnerships with organizations such as the Department of Defense and Walgreens, as alleged in the indictments.

In a lengthy trial in Silicon Valley, a jury found her guilty on four counts of serious fraud related to deceiving victims of millions of dollars. Prosecutors claimed that in total, the victims suffered losses of over $800 million.Elizabeth Holmes, Former Theranos CEO, Granted Early Release from Prison by 2-Year Margin

Her former associate was found guilty of fraud and conspiracy in 12 counts of fraud and was sentenced to nearly 13 years in prison.

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