Not just college, Theranos ex-CEO Elizabeth Holmes will also drop out of prison early
Theranos ex-CEO and financial fraud convict Elizabeth Holmes's 11 years 3 months' sentence has been reduced by two years, but no official explanation has been offered yet.
In 2022, the monumental rise and equally monumental downfall of Elizabeth Holmes formed the basis of the acclaimed miniseries The Dropout. The Hulu original was named so because Holmes dropped out of Stanford in her sophomore year to focus on her business interests.
The biotech entrepreneur rose in 2015 with her blood testing company Theranos. From 2018 onwards, it became public knowledge that Theranos had been indulging in financial fraud with Holmes misleading investors with exaggerated claims about their blood testing methods. Finally, in 2022, the former billionaire was convicted for a sentence of 11 years and three months starting from May 30, 2023.
Now, that sentence faces the possibility of being shortened by two years.
Holmes is apparently scheduled to be released from prison in Texas, US, two years earlier than anticipated.
According to the Bureau of Prisons website, her date of release is set for December 29, 2032, two years less than her sentence that was being served at Texas’s Federal Prison Camp, Bryan.
However, it must be noted that no official explanation from Holmes’s legal team or prison authorities has been offered.
However, the Bureau of Prisons did hint that the reason behind her sentence's reduction might be the consistency of good behaviour in prison. The Bureau’s spokesperson told Associated Press on July 11, “Every inmate earns good conduct time and it is projected in their projected release date.”
Ramesh “Sunny” Balwani, Holmes's longtime lover and partner in crime at Theranos, is also on the way for an early release from his almost 13-year jail sentence after being convicted of fraud and conspiracy in a separate trial in 2022.
ALSO READ: Former Theranos Prez Sunny Balwani gets 13 years in prison for fraud
According to the Bureau of Prisons, Balwani's scheduled release date is April 1, 2034. That would be about 11 years after he began his term in a prison in Southern California.