Elizabeth Holmes, once the darling of Silicon Valley and a (paper) billionaire, reported to the Federal Prison Camp in Bryan, Texas yesterday to begin serving her 11-year sentence for multiple fraud charges.
Holmes’ false claims about the blood-testing technology sold by her former start-up Theranos stand alongside the most brazen lies ever told in business. (For more on this, check out this fascinating interview with Amanda Seyfried, who transformed into Holmes for Hulu’s reimagining of her story.)
Now behind bars, Holmes will share a 6 am wakeup call, communal bathing facilities, and a job paying just a few cents per hour with 600 other woman inmates — including Jennifer Shah of Bravo’s Real Housewives of Salt Lake City, who’s doing time for her role in a telemarketing fraud scheme.
According to Camp Bryan’s prison handbook, “All designated inmates are required to develop a financial plan to meet their financial obligations.” Holmes’ reparations come to an eye-watering $452 million. She’s been ordered to repay the high-profile investors she defrauded alongside her former business partner Sunny Balwani as part of her sentence — but she claims she can’t even afford her lawyers’ bills.
Theranos’ benefactors included former Secretary of State Henry Kissinger and the Walton family, who founded Walmart. Former Secretary of Education Betsy DeVos reportedly contributed $100 million, and according to court documents, Holmes must repay Rupert Murdoch $125...
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