Charlie & Debbie

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I followed this story from the beginning.  But, how will Theranos Founder Elizabeth Holmes serve her sentence? The judge  recommended she serve the 11 year, 3 month term at a minimum security facility in Texas.  Federal Prison Camp bears no resemblance to the summer camp we attended as kids.  However, it’s really not like prisons you see in the movies either.  The Bryan facility sits about 100 miles northwest of Houston.  That’s Aggie territory for you Texas A&M fans.  It houses just over 500 female inmates on a 37 acre campus.  There are four dormitory type units.  According to the website description, staff-to-inmate ratio remains relatively low.  And, there’s really not much “perimeter fencing.”  Furthermore, I find this the most interesting part given Holmes’ financial background.  The facility requires all inmates work for an hourly wage between 12 cents and $1.15.  At one point Holmes’ net worth was $9 billion.

Holmes, pregnant with her second child, would have access to family counseling programs.  The facility also allows inmates correspondence courses, games, movies and arts and crafts.  Family visits take place on a fairly lenient schedule.  But, it’s still up to the Bureau of Prisons if this becomes her fate.  The checkin deadline to begin her sentence is April 27, 2023.  A jury convicted Holmes for her part in defrauding Theranos investors.  The company touted blood testing requiring only one drop of blood.  The technology never worked as promised.  Some of her investors included media mogul Rupert Murdoch, software billionaire Larry Ellison, the DeVos family of Amway fortune and the Walmart Walton family.  Prosecutors also asked Holmes to repay investors $804 million.  However, the hearing on that determination has yet to happen.

And, a jury also convicted Holmes’ former COO, Sunny Balwani on 12 counts of fraud.  His sentencing happens in December.  Also, the Hulu dramatization of the rise and fall of Theranos founder Elizabeth Holmes is captivating.