Theranos founder Elizabeth Holmes 11-year prison sentence reduced by 2 years
BRYAN, Texas -- Elizabeth Holmes, the founder of the blood-testing startup Theranos, appears to have had 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.
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.
The company was shut down in 2018.
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Holmes co-conspirator, former boyfriend and business partner Ramesh "Sunny" Balwani has also begun serving his nearly 13-year prison sentence for fraud and conspiracy in a federal prison in Southern California.
Both are in the midst of appealing their sentences.
Holmes's sentence represents a comeuppance for the wide-eyed Stanford dropout who broke through "tech bro" culture to become one of the Valley's most celebrated entrepreneurs, only to be exposed as a fraud.
Along the way, she became a symbol of the shameless hyperbole that often saturates startup culture.