Convicted Theranos founder Elizabeth Holmes will move to halfway house in 2027: Reports

Elizabeth Holmes, the founder of Theranos, who was convicted of defrauding investors through a blood-testing scheme, has been approved to move to a halfway house in August 2027, according to ABC News.Holmes founded health technology startup Theranos in 2003, claiming she could test for a wide range of conditions with just a small amount of blood.The technology was supposed to revolutionize how patients are tested for diseases. Instead of using needles and shipping samples off to a lab, waiting days or weeks for results, Theranos’s process was supposed to make it much simpler: A single finger prick. The idea quickly caught the eye of investors, including Walgreens and Pfizer, who offered up $945 million in funding.Holmes’s technology proved faulty, and she was convicted of defrauding investors out of hundreds of millions of dollars. In 2022, she was found guilty in 2022 of three counts of wire fraud and one count of conspiracy to commit wire fraud.Her company dissolved in 2018 after she was charged. She was scheduled to go on trial in July 2020, but delays from the COVID-19 pandemic and her pregnancy with her son pushed the trial to August 2021.During her trial, prosecutors argued Holmes knew her technology was faulty, but continued to hail it a success with press tours and appearances. Holmes’s sentence was reduced to 10 years and 3 months in prison, from 11 years and 3 months.An update from the Department of Justice’s Victim Notification System to ABC News said Holmes is scheduled to be placed in the Austin Transitional Center in Del Valle, Texas, on Aug. 23, 2027, and is scheduled to be released on Feb. 22, 2030.The notification also said that once she is released, she will continue to reside in Austin under supervision.Her move comes as Holmes is the center of a new documentary called You Can See Everything. The convicted felon details her family life in the documentary that she started filming in 2023, before she was sent to prison. The first-hand account of her life comes from filmmaker Nathan Fielder, who was invited into and stayed in Holmes’s home to create the documentary.“I think this is the moment in time to capture this story before I’m gone,” Holmes said in the movie’s trailer.THERANOS FOUNDER ELIZABETH HOLMES FOUND GUILTY IN FRAUD CASEShe maintained she “did not” do anything wrong. The film is set to release in theaters on Oct. 16.