Elizabeth Holmes, the founder of Theranos, has had her prison sentence further reduced according to the latest records from the Bureau of Prisons. Initially sentenced to 11 years in January 2022 for four counts of fraud and conspiracy related to false claims about her company’s blood-testing technology, Holmes’ release date has now been adjusted from December 29, 2032, to August 16, 2032. Holmes is currently serving her sentence at Camp Bryan, a minimum security federal prison in Texas. The reduction in her sentence comes through cumulative deductions which may include good behavior, participation in prison programs, or other activities, though specific details about her deductions have not been disclosed.

In another legal development, Bill Hwang, founder of Archegos Capital Management, is facing a criminal racketeering trial in Manhattan, centered on allegations of a stock scheme that led to significant financial losses in 2021. The trial, which kicked off with jury selection, is expected to span eight weeks. Hwang, alongside a deputy, is charged with racketeering conspiracy, fraud, and market manipulation, following maneuvers that prosecutors claim inflated stock prices through extensive use of derivatives. Both Hwang and his former chief financial officer have pleaded not guilty to the charges that led to the dramatic collapse of their $36 billion fund and considerable losses among its lenders. The trial will explore intricate details of these financial strategies and their effects.