Elizabeth Holmes: From Silicon Valley to a white-collar prison camp in Texas | wayne dupree

Tuesday will be Elizabeth Holmes’ last day of residence in Texas for many years. The Theranos founder is due in federal prison by 2 p.m. to begin serving her 11-year-and-three-month sentence. She must serve at least 85% of that, according to federal law. The 39-year-old will serve her sentence in a federal prison camp in Bryan with up to 720 other non-violent white-collar criminals, including a former Real Housewife.

The camp “does not have the strict fences and rules of high security prisons”, says the Guardian. In fact, the Wall Street Journal reports that his jail cell will likely have an open entrance rather than bars or a door.

The wealthy investors scammed by Holmes will also receive $452 million in reparations from him, but as the BBC notes, they shouldn’t get their hopes up. Restitution in the United States is “largely symbolic” these days, experts say, because few people really have the resources to cover the debt, reports the BBC. Holmes claimed she was unable even to fully compensate her lawyers. Any assets she might still have are likely seized by the Crown, and while incarcerated she will likely continue to deplete the fund.

The federal prison camp she will be staying in requires inmates to work and pays them between 12 cents and $1.15 an hour. She will likely earn around $6 a month and, according to Randy Zelin of Cornell Law School, half of that will go to her victims.

Bryan’s prison camp is “located about 100 miles from Houston, where she grew up dreaming of becoming a tech visionary similar to Apple co-founder Steve Jobs,” according to a moving statement from the AP. . According to NPR, several members of his family still reside nearby.

Holmes recently resided in San Diego with her boyfriend Billy Evans and their two children, a 3-month-old daughter and an almost 2-year-old son. Every weekend is allowed for visits and children under 10 can sit on their mother’s lap.

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