Elizabeth Holmes' ex-boyfriend and the number 2 in charge at failed blood testing startup Theranos, has had some time shaved off of his nearly 13-year sentence for fraud and conspiracy, Insider has learned.was sentenced to 12 years and 11 months,But federal prison officials have reduced Balwani's sentence. His new projected date of release is April 11, 2034, which means he will have served about 11 of the almost 13 years that he was originally sentenced to.
Last year, following a monthslong trial, a jury found him guilty of 12 counts of conspiracy and fraud. Balwani is appealing his conviction. His lawyer, Stephen Cazares, declined to comment. In April, Balwani reported to prison at Terminal Island FCI, a minimum security federal facility just outside of Los Angeles.
A spokesperson for the US Bureau of Prisons confirmed Balwani's release date, but declined to comment on the specifics of his case, citing privacy and security reasons. However, the spokesperson said that generally, every inmate can earn up to 54 days of"good conduct time" for every year served, which shortens their sentence. Additionally, inmates can earn credit for time served through participating in recidivism reduction programs and residential drug treatment.