Elizabeth Holmes’ sentence has been reduced by two years
Former Theranos founder Elizabeth Holmes was jailed at the federal prison camp in Bryan, Texas, in May to start her 11-year sentence for her crimes related to the Theranos fraud.
This month, Elizabeth’s sentence was reduced by two years, leaving her sentence at nine years.
Holmes has been accused of deceiving investors and patients at blood testing startup Theranos. She claimed she invented a blood testing startup that supposedly could test hundreds of diseases with a single drop of blood, which was not true.
She Holmes also faces three years of supervised imprisonment after completing her sentence and has been fined $452 million as compensation for the victims of the fraud. A judge delayed those payments due to their “limited financial resources.”
Her lawyers have appealed her conviction and while she is serving her sentence the trial is ongoing.
Ramesh “Sunny” Balwani, Holmes’ ex-boyfriend, received a similar reduction in his sentence. Balwani was originally sentenced to nearly 13 years in prison, but his sentence was reduced by two years, leaving him to serve 11 years.
