Elizabeth Holmes to Surrender to Prison
Disgraced Theranos founder Elizabeth Holmes is expected to surrender Tuesday to federal prison authorities nearly two years after her trial started.
Holmes has been ordered to surrender despite her appeal to overturn her 11-year sentence for fraud and conspiracy tied to the Theranos downfall.
A judge has recommended sending Holmes to a minimum-security women's prison camp in Bryan, Texas, which is located about 100 miles east of Austin. The prison is called FPC Bryan.
Disgraced Theranos founder Elizabeth Holmes is expected to surrender Tuesday to federal prison authorities nearly two years after her trial started. Scott Budman reports.
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“Maybe it's not as tough as a prison with stricter regulations and it may be easier to visit and perhaps there’s less chance of violence, but a lot of people who are scheduled to report to white collar prison end up not reporting for a variety of reasons, they either go on the run or end up taking their own lives,” said Aron Solomon, legal analyst with Esquire Digital.
Nonetheless, it’s a prison with 6 a.m. wake up calls, chores, jobs that pay 12 to 40 cents an hour, three changes of clothing, and limited visitation privileges.
Disgraced Theranos founder and convicted felon Elizabeth Holmes has just hours to report to prison. NBC Bay Area’s Jessica Aguirre spoke to Business and Tech reporter Scott Budman for some insight.
"Part of being deprived of your liberty is that she's not going to be able to see her family anytime that she wants, she's going to be able to do things only on the schedule of the institution she ends up reporting to,” said Solomon.
As her downfall comes to an end, many female CEOs in the Silicon Valley say they’re left with a shadow over their shoulders.
“You wish that it was about the fundamentals, it’s not, unfortunately you gotta know going in this is what the game is going to be, you gotta play 10 times harder, Elizabeth Holmes made it 20 times harder so we’re just going to play that much harder,” said Michelle Dennedy, PrivacyCode CEO.
Holmes and her former partner Sunny Balwani have also been ordered to pay $452 million in restitution to Theranos investors like Rupert Murdoch, the Devos family and Walgreens.
Here are details on the federal prison that may house Elizabeth Holmes.
Source: NBC Bay Area
