The situation for Elizabeth Holmes, 39, is easing up a bit. According to US media, her sentence of 11 years and three months in prison was “silently” reduced to 9 years and 7 months. Since May 30, she has been serving her sentence in a federal women’s penitentiary located in Bryan, Texas. She therefore could be released in 2030 instead of 2032.
The reason for this leniency was not specified. A spokesman for the Ministry of Justice confirmed the sentence reduction without further details, citing “confidentiality, security and protection reasons” for the detainees.
His imprisonment could be further reduced as explained The Guardian. In the United States, prisoners must serve 85% of their sentence and also benefit from a reduction in time for good conduct.
$452 million in compensation
A two-year remission of sentence was also granted to Sunny Balwani, an accomplice of Elizabeth Holmes. He was initially sentenced to 13 years in prison and was due to be released on April 1, 2034.
In 2015, she was a star in Silicon Valley and was compared to Steve Jobs for the innovations prepared by her start-up Theranos that promised a revolution in health diagnostics. Her technology never worked and the company closed in 2018 despite several hundred million dollars pumped by investors into the company’s capital. Holmes was found guilty of lying about the actual progress of her undertaking.
In addition to a prison sentence, the prosecution had demanded the restitution of 800 million dollars to his victims. Ultimately, he was ordered to pay them $452 million with flexibility from the judge in terms of payment due to his “limited financial resources.”
Source: BFM TV
