Elizabeth Holmes, founder of failed blood-testing startup Theranos, will be transferred from federal prison to a halfway home in Austin, Texas next August as part of her 11-year sentence for defrauding investors. Holmes was convicted in 2022 for falsely promoting Theranos technology as capable of detecting diseases from finger-prick blood samples and is scheduled for release in February 2030.
Elizabeth Holmes, the Theranos founder convicted of defrauding investors, will be transferred from Federal Prison Camp Bryan in Texas to a halfway house in Austin in August 2027 after having her sentence reduced by one year. Holmes founded Theranos in 2003 claiming revolutionary blood-testing technology, but a 2015 investigation revealed the company's technology was fake and relied on third-party devices instead.