San Francisco, California – Elizabeth Holmes, the former CEO of Theranos, has had her federal prison sentence shortened once again, with a new release date set for 16 August 2032. This new date is two years and four months earlier than her original release date. The decision to reduce her sentence was confirmed by a spokesperson for the Bureau of Prisons, although further details were not provided citing privacy, safety, and security reasons.

This marks the second time that Holmes has had her sentence shortened, with a reduction of more than four months this time around. The reduction in her sentence is in line with federal sentencing guidelines, which require individuals convicted of federal offenses to serve at least 85% of their sentence, regardless of any reductions for good behavior.

In 2022, Holmes was sentenced to 11 years and three months in prison after being found guilty of defrauding investors. Along with the prison sentence, she was also ordered to pay $452 million in restitution to those affected by her actions. However, the judge delayed these payments due to Holmes’s “limited financial resources.”

Holmes’s legal team has started the process of appealing her conviction, with oral arguments scheduled to begin on 11 June in a federal appeals court in San Francisco. This comes as part of ongoing efforts to overturn her conviction related to the Theranos scandal, where it was discovered that the technology used by the company was fraudulent.

Sunny Balwani, Holmes’s co-executive and former romantic partner, also faced legal consequences in a separate trial for his involvement in the Theranos scheme. He was sentenced to 13 years in prison, with two years reduced from his sentence in July. Balwani is set to be released from federal prison on 1 April 2034, according to the prisons bureau website.

Holmes’s case has garnered significant attention due to the meteoric rise and fall of Theranos, a biotech startup that claimed to revolutionize blood testing with just a single drop of blood. The revelations of fraud within the company led to both Holmes and Balwani facing legal repercussions, highlighting the importance of accountability in the business world.