Just six weeks into her 11-year, three-month prison sentence, disgraced biotech entrepreneur Elizabeth Holmes has apparently already behaved well enough to convince the US Bureau of Prisons that she’ll likely get out early.
Federal prison records now show that Holmes’ projected release date is December 29, 2032. That puts her total stay at the minimum-security women’s prison camp in Bryan, Texas, at just 115 months, or a little over 9.5 years. The updated projected release date is not particularly unusual, but given the notoriety of her case, her fate is closely watched.
Last November, US District Judge Edward Davila sentenced Holmes to 135 months in federal prison for four counts of defrauding investors of her infamous and now defunct blood testing start-up, Theranos. Holmes, along with her ex-boyfriend and former Theranos President, Ramesh “Sunny” Balwani, claimed their proprietary technology could perform hundreds of medical tests using just a drop of blood from a finger prick. While their claims and publicity helped drive the company’s valuation up to $9 billion in 2014, the technology never actually worked.
Prior to her sentencing, Holmes’ lawyers had requested just 18 months of house arrest for her conviction, while federal prosecutors sought 15 years. The probation officer in Holmes’ case recommended 9 years, close to what her term is now projected to be.
Holmes is appealing her conviction. But Davila and the US Court of Appeals for the 9th Circuit denied her attempts to remain free on bail as she pursues the appeal. Holmes arrived at the Texas women’s prison camp on May 30 to begin her sentence.
A Justice Department spokesperson confirmed to The Washington Post that Holmes’ prison sentence has not changed but that a prisoner’s release date “almost certainly” reflects good conduct and recidivism-reduction programs that can allow prisoners to reduce their time. A Bureau of Prisons spokesperson likewise noted that prison release dates are generally updated periodically.
In a statement to the Associated Press, the Bureau of Prisons declined to comment on Holmes’ case specifically, citing “privacy, safety, and security reasons,” but said that “every inmate earns good conduct time and [that] is projected in their projected release date.”
Under federal regulations, federal prisoners must serve a minimum of 85 percent of their court-imposed sentences, with the remaining 15 percent set aside as the maximum reward for good behavior. Holmes’ updated release date reflects the maximum reward. Likewise, Balwani’s 13-year prison term for his separate conviction on 12 counts of fraud and conspiracy is also projected to be reduced.
If the projected release date stands, Holmes, now 39 and the mother of two children, will be released a few weeks before her 49th birthday.
In addition to their prison terms, Holmes and Balwani have been jointly ordered to pay $452 million in restitution to defrauded investors.
This post has been updated to provide additional context.
