Two years shaved off fraudster Elizabeth Holmes' prison sentence

Elizabeth "Liz" Holmes and her ex-boyfriend, co-conspirator, and attempted scapegoat Sunni Balwani, have seen their prison sentences shortened by two years. The Bureau of Prisons declined to comment as to why, however, sentences are routinely shorted for things like good behavior, tho not necessarily for positive press in the New York Times.

Holmes has been serving her term, while her attorneys continue to appeal her conviction.

The Guardian:

The reduction seen by Holmes is in line with federal sentencing guidelines, which states that people convicted of federal offenses must serve 85% of their mandated sentence, even if they get time shaved off for good conduct.

Lawyers for Holmes did not immediately respond to a request for comment. The sentencing change comes after her co-conspirator, Sunny Balwani, also saw two years shaved off of his 13-year sentence, with his projected date of release now 1 April 2034, according to the Bureau of Prisons website.

Holmes and Balwani were convicted in separate trials for their actions at the head of Theranos, a multibillion-dollar biotech company that collapsed spectacularly after reporting from the Wall Street Journal and others revealed its technology to be largely fraudulent.

Government lawyers for the prosecution teams did not immediately respond to a request for comment. Holmes will also face three years of supervised release after her sentence ends and has been ordered to pay $452m in restitution to victims of the fraud, though a judge has delayed those payments due to her "limited financial resources".