"Disgraced Theranos founder Elizabeth Holmes has had roughly three years shaved off her prison sentence for defrauding investors in her failed blood-testing startup, Business Insider has learned. Holmes reported to a cushy minimum-security women's prison camp in Texas on May 30, 2023, after the former CEO was sentenced in 2022 to 11 years and three months behind bars. Now online records from the Federal Bureau of Prisons show Holmes' projected release date to be December 30, 2031."
"In January 2022, following a nearly four-month trial, Holmes was convicted of four federal counts of conspiracy and wire fraud in connection with a scheme to dupe investors in Theranos out of hundreds of millions. Holmes had repeatedly claimed that her now-defunct Silicon Valley biotech startup, once valued at $9 billion, had developed a revolutionary blood analyzer capable of testing for hundreds of diseases and conditions using only a few drops of blood from a finger."
Elizabeth Holmes reported to a minimum-security women's prison camp in Texas on May 30, 2023, after receiving an 11-year, three-month sentence for defrauding investors. Federal Bureau of Prisons records list a projected release date of December 30, 2031, reflecting roughly two years and eight months reduced through earned good-conduct time. Qualified inmates may earn 54 days of good conduct time per year. Holmes was convicted in January 2022 on four counts of conspiracy and wire fraud for a scheme that duped investors out of hundreds of millions by falsely claiming Theranos developed a revolutionary blood analyzer. An appeals court upheld the conviction.
Read at Business Insider
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