Theranos founder Elizabeth Holmes has shaved more than four months off her prison sentence, according to the U.S. Bureau of Prisons.
Holmes, 40, was sentenced to 11 years and three months for defrauding investors in her now-defunct Palo Alto blood-testing startup. She began serving time at federal prison camp Bryan in Texas on May 30 last year.
In July, the prisons bureau calculated her projected release date to be December 29, 2032. As of Monday, her anticipated exit from the minimum-security facility is August 16, 2032, the bureau said.
Prison officials said that for privacy, safety and security reasons, they could not say what led to Holmes’ earlier projected release date. But the bureau said in a statement that inmates can cut 54 days off their sentences for each year of their sentences if they meet conduct standards.
Inmates may receive additional time off their prison terms by completing recidivism-reduction and “productive activities” programs.
Holmes’ earlier projected release date appeared to have been based on credit of 54 days for each year of her sentence, suggesting the August 2032 date reflects participation in prison programs.
Projected release dates are subject to change. In California state prisons, inmates convicted of non-violent offenses can slash their sentences by half through good conduct and participation in prison programs.
Holmes’ downfall from high-flying CEO worth billions of dollars on paper to inmate 24965-111 has drawn world-wide attention. In January 2022, she was convicted by a jury in U.S. District Court in San Jose on four counts of felony fraud after a four-month trial. Jurors heard that Holmes misrepresented the financial state of Theranos and the capabilities of her problem-ridden blood-testing machines. Prosecutors pegged investor losses at more than $878 million. The jury convicted Holmes on charges related to about $144 million in losses.
Judge Edward Davila in November 2022 handed down her sentence, and later ordered her to pay more than $450 million in restitution.
The mother of two is appealing her conviction and sentence.