Former Theranos CEO Elizabeth Holmes reports to prison to serve her 11-year sentence for fraud

[Fla Dem]

Source: CBS

BY ELIZABETH NAPOLITANO
UPDATED ON: MAY 30, 2023 / 1:39 PM / MONEYWATCH

Former Theranos CEO Elizabeth Holmes was taken into custody Tuesday to begin serving her 11-year sentence at a Texas prison for swindling investors of hundreds of millions of dollars and lying about her biotech company's blood-testing technology.

A California court convicted Holmes, 39, on four counts of fraud and conspiracy. The judge presiding over the case recommended she serve time at a prison camp in Bryan, Texas. She leaves behind a nearly 2-year-old son, who was born weeks before the start of her trial; and a 3-month-old daughter, who was conceived after her conviction.

Holmes, 39, will be incarcerated in a minimum-security women's prison camp in Bryan, Texas, located about 95 miles northwest of Houston, where she grew up aspiring to become a technology visionary along the lines of Apple co-founder Steve Jobs.

Read more: https://www.cbsnews.com/news/theranos-ceo-elizabeth-holmes-prison-sentence-trial/

[tinrobot]

1. I half expected her to pull an OJ and flee in a white Tesla

[SledDriver]

2. A 3-month-old daughter, who was conceived AFTER her conviction?

Nice of them to give her so much time between conviction and "reporting" to prison. Sounds about white.

How about once the guilty verdict is delivered, cuffs and off to jail to await sentencing. From jail you go to the sentencing, 11 years, back into cuffs and off to prison. Why does she get a YEAR off to take a vacation, get pregnant and have a baby, have a life?

[Kennah]

5. Guess she read up on Mary Read and Anne Bonny thinking she had it covered

[2naSalit]

9. Exactly.

Talk about murikkin exceptionalism.

I thought she had two kids in that time but whatever. At least it's more then ten years. She deserves every day of it.

[Strelnikov_]

26. ..

[Joinfortmill]

3. About damn time.

[bucolic_frolic]

4. Make your frauds small lest you get caught /nt

[Kennah]

6. And steal from the poors, not the rich

[RAB910]

7. Reading the description, I am not sure it's accurate to say she is going to "prison"

[Fla Dem]

12. I certainly would consider it a prison. She's incarcerated. She cannot come and go as she pleases.

Most women are sentence to this type of facility because they pose little risk.

It may not be as horrendous as Sing Sing or Alcatraz nor as stringent as a penitentiary, but it's still confinement for 11 years unless she gets parole. That's 11 years of not seeing her family for any meaningful amount of time, having no freedom to come and go as she pleases, housed with 700 other inmates, many who may not be the nicest people. Not to mention having to share a cell with 3 other women. Women can be very cruel. This is not summer camp.

Do I think she deserves it? Absolutely, but to bush off her incarceration as no big deal is not looking at the whole picture.

Holmes could share a cell with as many as three other inmates. The cells have two bunk beds with mattresses "about as thick as the width of a hand," inmates told the publication. Inmates have access to a recreation facility, jogging track and can watch television or read books in their spare time, the Journal reported. All inmates must return to their cells by an 8 p.m. curfew.

[RAB910]

19. Do you think poor people and minorities are treated the same way?

[Fla Dem]

21. Not sure what that has to do with this person's situation, but....

I'm not sure if minority men are treated the same as a non-minority woman or minority women for that matter in the federal system. I would like to think sentencing is based on their crime regardless if a minority or non-minority, male or female, and their prior history. Men and women who commit federal crimes are incarcerated in Federal prisons. Woman go to federal womans prisons which have a lower level of incarceration than men as they are considered a lower risk.

Minority woman, if convicted of a federal crime, get the same treatment as non-minority females. Basically, because there are "woman only" FEDERAL prisons. Those prisons are regulated by the Federal gov't as opposed to state prisons which are under the regulation of the states and therefore the equality of regulation probably differs from state to state.

[brooklynite]

14. I find the "Club Fed" tropes somewhat tiring...

...Prison security levels are based on the convict's propensity for violence and risk of escape.

[RAB910]

18. even notice the people enjoying that club tend to be white and wealthy?

[maxsolomon]

15. More cruelty!

Harsher punishment!

[RAB910]

17. If you want, me I can't help but be struck at how this wealthy white woman is treated

compared to the poor and minority prisoners

[maxsolomon]

20. So, you want wealthy white women treated more cruelly and more harshly

so it's fair to all. Got it.

[RAB910]

24. why don't you want them treated equally?????

Why do you want the white wealthy woman treated better?!?!

[maxsolomon]

25. I'd like them all treated like Holmes is being treated.

What a ridiculous exchange.

[RAB910]

28. Yes, your strawman games were rather embarrassing

[maxsolomon]

29. I feel similarly.

Shame we can't see eye to eye on the proper level of cruelty that a federal prison sentence should entail.

[RAB910]

30. It's a shame you are unwilling or unable to honestly depict another person's point of view

I couldn't help but notice you did not like it when I treated your comments like you did mine.

[Mysterian]

23. Do you have data on the racial demographics of minimum security prison camps?

Please share!

[msfiddlestix]

8. Too bad she wasn't convicted of death threats, she would only have been given 2 years.

[FakeNoose]

10. She missed her chance to climb into a US Capitol window on January 6

Chump probably would have given her a 50% discount on her presidential pardon.

[msfiddlestix]

13. No doubt! n/t

[mpcamb]

11. Date of Conviction: "In January 2022, a jury found her guilty on three counts of wire fraud...

and one count of conspiracy to commit wire fraud."

We need to do better when it's trump's time for an orange jump suit.
Let's think about ways to make that happen.

[maxsolomon]

16. IIRC, she has to serve 80% of the sentence prior to parole?

9 blissful years till we'll have to hear about her again.

[LaMouffette]

22. Why did she get 11 years for fraud when the CFO of the Trump Organization, Allen Weissenberg,

got just 5 months AND was released after serving just 100 days of his sentence?!

I guess swindling Americans out of millions of dollars of lost tax revenues is no big deal, but swindling some wealthy private investors? Now THAT is a serious crime, worthy of years, not months, of prison!

[Xolodno]

27. Think she got a harder sentence not because the money she swindled....

...investors, banks, etc. should do their due diligence.


But she was willing to roll the product out when it had a 50% failure rate that could have ended killing a lot of people.

Bernie Madoff and Jordan Belfort got hit hard because they never believed they would ever be caught and not once realized it was coming down around them. She may have had similar thoughts.