Elizabeth Holmes, the founder and former CEO of the Palo Alto blood-testing startup Theranos, may have her prison sentence reduced by nearly two years, according to records from the Federal Bureau of Prisons.
Holmes was sentenced to 11 years and three months in prison after being found guilty on charges of fraud and conspiracy in January 2022. According to the Federal Bureau of Prisons website, her new release date is Dec. 29, 2032.
The reduction is for good conduct, which Holmes has yet to show; in that sense, the new release date is an incentive rather than a guarantee, according to a legal analyst interviewed by NBC Bay Area.
In addition to incarceration, U.S. District Judge Edward Davila also ordered Holmes at her sentencing to spend three years under supervised release once her prison term is complete.
Holmes is currently serving her sentence at Federal Prison Camp, Bryan, a minimum-security prison for female offenders located 100 miles north of Houston.
Theranos was founded by Holmes after she dropped out of Stanford University in 2003. The company claimed to have invented a new blood-testing method that could detect disease from just a pinprick. Later, the company's claims about its technology were found to be fraudulent by federal authorities. In 2018, the company was shut down.
The U.S. Court of Appeals for the 9th Circuit on May 16 denied a motion by Holmes to stay out of prison while she appeals her conviction.