Elizabeth Holmes, the infamous co-founder of Theranos, has caught a break in her prison sentence. According to the Bureau of Prisons, she’s getting out two years earlier than expected. That’s right, folks, Holmes was originally slapped with an 11-year and three-month sentence for duping investors with her blood-testing company’s false promises of accurate and speedy results. But guess what? Turns out she was lying through her teeth about the reliability of those tests.
Now, picture this: Holmes turned herself into the Bureau of Prisons in California back in May. She was all set to serve her time at a minimum-security federal prison camp for women in Bryan, Texas. But get this—it’s barely been two months, and her release date has mysteriously moved up to December 29, 2032. Huh? We’re left scratching our heads over here. The Bureau hasn’t spilled the beans on why her sentence got a magical trim, but they did mention that good behavior, completing substance abuse programs, and participating in various activities can shave off some jail time. Go figure!
Ramesh “Sunny” Balwani, the former president and chief operating officer of Theranos, saw his sentence cut by two years as well. Looks like the universe has a soft spot for fraudsters. Balwani’s new projected release date is now April 11, 2034. They must be having quite the party planning their grand exit from prison together.
Now, here’s the kicker. On top of their prison time, both Holmes and Balwani have been ordered to cough up a mind-boggling $452 million in restitution. Holmes, who once flaunted having a cool $4.5 million in her bank account during her heyday, suddenly claims to be penniless. Her lawyers even had the audacity to complain about the measly $250 per month restitution, arguing it won’t be feasible for her to pay once she’s out of the slammer.
Holme is currently serving the remainder of her nine-year sentence at FPC Bryan, where she’s subject to a grueling schedule that starts at the ungodly hour of 6 a.m. every day. If she’s lucky, she might snag a job earning a whopping 12 cents to $1.15 an hour. Talk about backbreaking work!