Former businesswoman Elizabeth Holmes, convicted of fraud, has had her sentence reduced by around two years. According to current information from the US prison administration, she should now be released at the end of 2032 – in just over nine years. When she entered prison in May, the original sentence of eleven years and three months was still in effect. The authority confirmed the newspaper Guardians on Tuesday that the jail term had been shortened, but did not provide any information on the reasons.
Holmes was the founder and CEO of the start-up Theranos, with which she promised to revolutionize blood tests. With Theranos, only a few drops of blood are said to be sufficient for complex tests. Holmes was celebrated, Theranos reached a valuation of up to nine billion dollars in financing rounds – and Holmes became a billionaire, at least on paper. But then it turned out that the technology didn’t work. Holmes and her top manager Ramesh Balwani were subsequently convicted of allegedly deceiving investors. She continues to try to overturn the verdict on appeal.