Elizabeth Holmes, found guilty of fraud with her failed blood test company Theranos go to jail today.
Elizabeth Holmes reports to FPC Bryan with Jen Shah
The disgraced fraudster will be locked behind bars before the end of the day. There are no more calls or delays; it’s time to face the music. She reported to FPC Bryan, and if that name sounds familiar to you, it’s because you’ve heard a lot about her lately.
‘It’s the old man’s house The Real Housewives of Salt Lake City former Jen Shah. She has been behind bars for a few months for fraud-related charges. The popular Texas-based federal prison camp is just over an hour from Houston.
The prison has also housed reform felons like Michelle Janavas, made famous for her role in the college admissions scandal; Jenna Ryan, of those caught up in the 2021 Capitol attack; and Lea Fastow, an assistant at Enron and wife of Andrew Fastow, pleaded guilty to tax evasion and did not report more than $200,000 in income.
Who the hell is Elizabeth Holmes?
A little reminder here. Holmes started a company called Theranos which boasted that it could gain in-depth knowledge of the body, including diagnosing major diseases like cancer and diabetes, all with “a drop of blood”.
The scientist around the Ivy League school dropout repeatedly told her that it was essentially impossible, and she wasn’t the first to try and fail at the idea. Yet the stubborn stalling outweighed the perceived hatred.
Months and years later, Holmes’ company is lying to investors, striving to produce accurate data, and putting the lives of millions of Americans at risk. She was eventually charged with four counts of wire fraud and conspiracy for falsely claiming that Theranos blood tests could do precisely what they could not.
Her business partner and sneaky nexus at the time (she’s now married with two children), Ramesh Balwani, must together pay $452 million in compensation to investors defrauded by her refusal to accept the truth.
Elizabeth Holmes tried to stay out of jail
The 39-year-old has repeatedly appealed the court’s decision. Her last successful appeal was last month when she asked for and got another month with her two young children and her husband, Billy Evans.
But time is up, Holmes. Today she will begin her sentence of 11 years and three months. The minimum security prison has 655 inmates. It’s not a vacation either; women must work for a small wage and follow the structure and order within the prison.
Pay starts at $1.15 an hour, according to information on the prison’s website. A quick search showed that Holmes’ records had yet to be uploaded to the prison system, but no doubt, like Shah and others, his information, such as release date and means of email or contact her, will be listed.
Elizabeth Holmes was an example
Holmes’ conviction shocked many because no one believed that someone who ran a medical business would be so lazy about producing it. The rumblings around Silicone Valley are that Holmes is an example that the logic of “fake until you make it” is not something to play with.
Life is about to be very different for Holmes, who lived on the money of her wealthy husband’s family on the Green Gables lot on a $135 million estate. Not only is this going to suck for her, but while awaiting sentencing, she has deemed it wise to procreate and now leaves her two children behind.
It has been reported that her young children, William and Invicta, can have video calls with their imprisoned mother and visit her on weekends and federal holidays. Telephone calls can last 15 minutes each and prisoners are given 300 minutes per month.
Buckle up for the upcoming 11 years and 3 months sentence. For the sake of her children, hopefully, good behavior can save her a few years.