A judge has suggested that disgraced Theranos founder Elizabeth Holmes serve her 11-year sentence at a “minimum-security” prison facility after she was convicted of four counts of fraud. As previously reported, Elizabeth, who is currently pregnant with her second child, was found guilty of defrauding her investors out of hundreds of millions of dollars with her blood-testing company that had subsequently turned her into a billionaire.
District Judge Edward Davila said Holmes should be placed at the Federal Prison Camp in Bryan, Texas, which is known as a minimum-security prison. Criminal defense lawyer Alana Ellis expressed to Bloomberg that the move in having Elizabeth carry out her sentence at this particular prison ward was most likely a request made by her attorneys, as prison officials at the camp are said to have an “open-minded” approach when it comes to dealing with its convicted criminals.
Before you feel bad for Elizabeth Holmes given her sentence of over 11 years, I would like to remind you at least one brave whistleblower helped expose her fraud and she tried to crush the stories by using her connections to Rupert Murdoch and high powered lawyers.
— Bradley P. Moss (@BradMossEsq) November 18, 2022
RELATED: Utah Teens Under Investigation For Blackface Halloween Costumes: ‘This Is A Hate Crime’
“No one wants to get kicked out because compared to other places in the prison system, this place is heaven. If you have to go it’s a good place to go,” Alan told the publication. Aside from her 11-year and 3-month sentence, however, Elizabeth will also be required to complete three years of supervision once she’s released from prison, which some insiders believe will be far sooner if Elizabeth keeps a clean track record and remains on her best behavior.
Prosecutors had initially hoped to have the 38-year-old serve 15 years in prison on top of asking the judge to fine her with $804 million in restitution, which was still a fairly smaller amount to the money she is believed to have made from the investors who were convinced they were putting their money to a groundbreaking cause. Some of the high-profile names who had invested into the company included media mogul Rupert Murdoch and the richest family in the U.S., the Walton family — whose fortune derives from Walmart.
As far as I am concerned, Elizabeth Holmes should be sentenced to 15 years in prison, give birth to her baby in jail, and let her parents and/or baby daddy raise it. After all, that’s what Black and Brown women are forced to do for far less.
— M. Marks-Osborne (@womanphilosophe) November 18, 2022
In 2014, after accumulating a significant amount of money from investors, Theranos had been valued at an incredible $9 billion. Forbes would go on to name her one of the youngest self-made billionaires in the country, estimating her net worth at around $4.5 billion — but everything came crashing down when questions pertaining to the legitimacy of her business practices were being questioned.