New Delhi:- Former Theranos CEO Elizabeth Holmes, who was convicted, is set for early release, according to online records. In November 2022, a former California biotech entrepreneur was sentenced to 11 years and 3 months in prison for defrauding investors in a Silicon Valley startup that failed to revolutionize blood testing.

Federal Prison Service records on Tuesday showed Holmes' sentence was commuted to nine years and her release date is December 23, 2032. That means she will be released two years early.

Ms. Holmes, 39, turned herself in at the lowest-security women's federal prison in Bryan, Texas, on May 30. A spokesman for the federal agency confirmed the reduction to USA TODAY on Tuesday, but said it could not provide further details about Holmes' early release due to "privacy and safety reasons."

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Some inmates are eligible for court-ordered early release, such as "compassionate" release or amnesty due to old age or medical reasons, according to a statement from the federal agency. In a statement, the Bureau of Prisons said inmates could also have their sentences reduced for good deeds such as completing a job or attending a course in a substance abuse program.

Hours earned may be revoked for disciplinary concerns or other violations, officials said. Holmes, who was convicted in January 2022, dropped out of Stanford University at age 19 and founded Theranos, a medical diagnostics company, in 2003. Its mission:

Blood tests require only pinpoint blood, enough to run dozens of medical tests on startup high-tech equipment.

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The company has grown to be worth more than $9 billion, employs more than 800 people, and has attracted investors, including Oracle founder Larry Ellison. Rupert Murdoch, billionaire media mogul. The Walton family, who founded Walmart.

Holmes and his colleague and former girlfriend Ramesh "Sunny" Balwani lied about the company's technology, finances, and affiliation with the Department of Defense and Walgreens, the indictment revealed. 

In a lengthy trial involving Silicon Valley, a jury found her guilty of four counts of fraud and at least $120 million in damages to victims. Prosecutors said her damages exceeded $800 million.

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Her ex-partner was convicted of 12 counts of fraud and conspiracy and sentenced to about 13 years in prison. 

The former Theranos CEO Elizabeth Holmes has got released two years prior and after the officials were asked about this they reported as the data will not be shared due to safety reasons.