Theranos blood-testing hoax: Elizabeth Holmes enters Texas prison to serve 11-year sentence
Elizabeth Holmes will be making about $6 a month through her job assignments in the prison, and half of the total will go to her victims
PremiumElizabeth Holmes—founder of the ill famous health technology firm Theranos—Tuesday reported to the federal prison in Texas where she would be serving her next 11 years 3-month sentence for overseeing a blood-testing hoax that became a parable about greed and hubris in Silicon Valley.
Holmes, 39, was seen walking into the federal women’s prison camp located in Bryan, Texas, wearing jeans, a brown sweater and smiling as she spoke with two prison employees accompanying her, reported AP.
The Theranos founder would be among a population of up to 720 white-collar and non-violent female offenders including “Real Housewives of Salt Lake City" star Jennifer Shah, who was sentenced earlier this year to 6 and 1/2 years in prison for defrauding thousands of people in a yearslong telemarketing scam.
The Guardian reported that the prison camp “lacks the fencing and strict rules of higher-security prisons." Her prison room lacks bars or doors, it has an “open entrance", Wall Street Journal reported.
Most federal prison camps don’t even have fences and house those the Bureau of Prisons considers to be the lowest security risk. The prison camps also often have minimal staffing and many of the people incarcerated there work at prison jobs.
Holmes has been ordered to pay $452 million in restitution to the wealthy investors she defrauded, but she claimed she can't even pay her lawyers in full.
According to a 2016 FPC Bryan inmate handbook, the inmates who are eligible to work can earn between 12 cents and $1.15 per hour in their job assignments, which include food service roles and factory employment operated by Federal Prison Industries. She will be making about $6 a month, and half of the total will go to her victims, said a law expert.
Holmes is leaving behind two young children — a son born in July 2021 a few weeks before the start of her trial and a three-month old daughter who was conceived after a jury convicted her on four felony counts of fraud and conspiracy in January 2022.
They are permitted to visit their mother every weekend, and children under 10 can sit on their mother's lap.
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