Prison sentence of Elizabeth Holmes reduced by two years
Theranos founder Elizabeth Holmes
The prison sentence of Elizabeth Holmes was shortened by two years, The Guardian reported, citing new records. Holmes' profile on the website of the Bureau of Prisons has apparently been updated and now it shows that her release date is December 12 in 2032, which is two years sooner as compared to what was given.
As quoted by the report, a spokesman for the federal agency confirmed the update but said he could not comment further citing “privacy, safety, and security reasons” for inmates.
On May 30, the disgraced biotech star had reported to a women's prison camp located in Bryan, Texas. Last year in November, she was convicted on four counts of defrauding investors and sentenced to 11 years and three months. The date of her release has been changed as she will now serve around nine years and seven months.
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The minimum-security prison where she is placed has inmates mostly convicted of white-collar crimes, low-level drug offences and harbouring illegal immigrants and Holmes could live in a cell with as many as three other inmates.
The 39-year-old Holmes has been serving jail time for defrauding investors with her Silicon Valley start-up Theranos.
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She was found guilty of deceiving investors into believing she had invented a groundbreaking medical device. She became famous after she said that Theranos' small devices could perform a variety of diagnostic tests with only a few droplets of blood.
In 2014, she was even named by Forbes as the world's youngest female self-made billionaire at the age of 30, and her stake in Theranos was valued at $4.5 billion.
But her life changed overnight after a series of Wall Street Journal stories questioned its technology in 2015. She then went bankrupt as her fortune flamed out.
Besides the prison sentence, she and former top Theranos executive Ramesh "Sunny" Balwani were also ordered to pay $452 million to the bilked investors. Balwani was sentenced to nearly 13 years and is currently serving his time at a federal prison in California.
(With inputs from agencies)
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