Elizabeth Holmes, former CEO of the failed blood testing company Theranos, has had her prison sentence reduced by two years. She was initially sentenced to 11 years and three months in prison in 2022 for fraud. The U.S. District Court for the Northern District of California granted Holmes’ request for a sentence reduction on July 11, 2023. Holmes argued that she had been a victim of abuse by her former boyfriend and business partner, Ramesh “Sunny” Balwani, and that she had suffered from mental health issues during her trial. The court’s decision to reduce Holmes’ sentence was met with mixed reactions, with some arguing it was too lenient and others stating it was fair given Holmes’ history of abuse and mental health problems.
Holmes’ new release date is December 29, 2032, and she will have served nine years and seven months in prison. Theranos was convicted of four counts of wire fraud and one count of conspiracy to commit wire fraud in January 2022. Theranos whistleblower Tyler Shultz expressed disappointment with the sentence reduction, arguing that it sends the wrong message to other fraudsters. However, Holmes’ lawyer, Kevin Downey, argued that the sentence reduction was “fair and just” and that Holmes had “suffered greatly” during her trial and was committed to making amends for her mistakes.