Theranos founder Elizabeth Holmes is to be released from prison two years early. Holmes was serving time for defrauding investors in the failed biotechnology startup that aimed to revolutionize blood testing. The biotech entrepreneur was initially sentenced to 11 years and three months for her crimes.
According to USA TODAY, a representative for the minimum security women’s prison in Texas said they could not provide additional details about Holmes’ slated early release citing “privacy, safety, and security reasons.”
Theranos was created by Holmes when she was only 19 years old, after she dropped out of Stanford University. The company aimed to craft a blood test that required only a pin prick of blood, but could test for a vast array of diseases with their high-tech machines. The entrepreneur’s former romantic partner Ramesh “Sunny” Balwani” lied to Walgreens and the Department of Defense alongside her, according to indictments.
Before its collapse, the company was valued at over $9 billion, employing more than 800 employees. Notable investors included Larry Ellison, founder of Oracle; Rupert Murdoch, billionaire media mogul of Fox News Corp; and the Walton family, who founded Walmart.
The story of Theranos’ collapse reached a new audience when actress Amanda Seyfried was cast as Holmes in Hulu’s “The Dropout.” Seyfried previously spoke out about the need for justice when it comes to the real life inspiration behind her performance in the hit show.
"The Dropout" star Amanda Seyfried shares her mixed feelings on Elizabeth Holmes entering prison. Watch. pic.twitter.com/UeEuGKneX4
— E! News (@enews) May 31, 2023
The actress took home a Golden Globe for her performance as Holmes.
ADVERTISEMENT
