Elizabeth Holmes Sentence Reduced After Only Months in Prison

The Theranos founder, Elizabeth Holmes, has already had her sentence shortened after only a few months in federal prison. Initially, Holmes was sentenced to more than 11 years for fraud and conspiracy. Now, she is facing nine years, according to the Federal Bureau of Prisons.Holmes was found guilty last November of defrauding investors during her time at the head of the failed blood testing startup, Theranos.At the end of May, Holmes reported to a minimum security prison at Bryan, Texas, to serve her sentence. While she was out on bail between 2018 and 2022, she had two children with businessman Billy Evans.Holmes unsuccessfully attempted to have her sentence postponed to be with her young children, the first of which was born in July 2021 and the second of which was born shortly before she reported to prison.Holmes’s co-conspirator, Sunny Balwani, who is also Holmes’s ex-boyfriend, also saw his sentence reduced by two years, bringing his sentence to 11 years from 13. Both of these reductions are in line with federal sentencing guidelines that require an individual to serve at least 85 percent of a sentence, even if it is reduced for good behavior.Collectively, Holmes and Balwani were ordered to pay more than $452 million in restitution. Last month, Holmes’s lawyers objected to a repayment plan, claiming that Holmes — at one point a billionaire — did not have the financial resources to pay $250 a month on her release.After Holmes’s time in prison, she will also face three years of supervised release. In line with Prison Bureau rules, time may be added back on to Holmes’s sentence if she is found to behave badly.The Federal Bureau of Prisons has not yet commented on why Holmes’s sentence was reduced.

Elizabeth Holmes Sentence Reduced After Only Months in Prison

Elizabeth Holmes Sentence Reduced After Only Months in Prison

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