Elizabeth Holmes could be released from prison two years earlier than expected

By Catherine Thorbecke

(CNN) — Disgraced former Theranos CEO Elizabeth Holmes could be out of prison nearly two years earlier than expected, according to the projected release date posted by the Bureau of Prisons.

Holmes reported to a Texas prison camp in late May after being sentenced to 11 years and three months in prison at the end of last year. The Bureau of Prisons online database now reports, however, that Holmes’ expected release date is December 29, 2032 – which would take roughly two years off of her full sentence.

The discrepancy appears to be due to how the Bureau of Prisons calculates its estimated release date.

A spokesperson for the Bureau of Prisons told CNN that the agency cannot comment on the conditions of any individual inmate, but said that inmates can earn Good Conduct Time (or GCT) that is calculated into their projected release date. Qualified inmates are currently eligible for up to 54 days of GCT time for each year of the sentence imposed by the court.

Moreover, inmates have other ways of earning time credits while incarcerated, the spokesperson said, pointing to a range of other factors that could go into calculating the agency’s estimated release date, including an inmate’s participation in various prison programs. These factors that go into calculating an estimated release date are not unique to Holmes’ case, but standard for inmates.

Holmes is currently serving out her sentence at Federal Prison Camp Bryan, a minimum security federal prison camp that is approximately 100 miles from Houston. Her request to remain free on bail while she fights to overturn her conviction was denied by an appellate court in May.

Holmes was once an icon in the tech world, serving as a poster child for the limitless ambitions and potential of Silicon Valley. She is now one of the rare tech executives to be serving prison time after being convicted early last year on multiple charges of defrauding investors while running Theranos.

Theranos was valued at $9 billion at its peak – making Holmes a paper billionaire. The company began to unravel after a Wall Street Journal investigation in 2015 reported that Theranos had only ever performed roughly a dozen of the hundreds of tests it offered using its proprietary technology, and with questionable accuracy. It also came to light that Theranos was relying on third-party manufactured devices from traditional blood testing companies rather than its own technology.

The-CNN-Wire
™ & © 2023 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.