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Link to original content: https://www.nytimes.com/2023/05/30/technology/elizabeth-holmes-theranos-prison.html
Elizabeth Holmes Reports to Prison in Texas on Tuesday - The New York Times

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Elizabeth Holmes Reports to Prison to Begin More Than 11-Year Sentence

The disgraced founder of the blood testing start-up Theranos, who was convicted of fraud, turned herself in at a minimum-security prison in Texas.

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Elizabeth Holmes Reports to Federal Prison

The founder of the failed blood testing start-up Theranos turned herself in at the federal prison in Bryan, Texas.

Elizabeth!

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The founder of the failed blood testing start-up Theranos turned herself in at the federal prison in Bryan, Texas.CreditCredit...Annie Mulligan for The New York Times

Erin Griffith reports on start-ups and venture capital from San Francisco.

Elizabeth Holmes, the disgraced entrepreneur who was convicted of defrauding investors at her failed blood testing start-up, Theranos, reported to a federal prison in Texas on Tuesday to begin her 11-year, three-month sentence.

Ms. Holmes surrendered to F.P.C. Bryan, a minimum-security prison camp for women roughly 90 minutes from Houston. She pulled up in a Ford Expedition that appeared to be driven by her mother, Noel Holmes. Her father, Christian Holmes, appeared to be inside.

After some shuffling around, out of the view of the cameras gathered nearby, Elizabeth Holmes entered the facility wearing jeans, glasses and a sweater, and carrying some papers. As she entered the prison, a bystander watching from the street yelled her name.

F.P.C. Bryan’s 655 inmates are required to work in the cafeteria or in a manufacturing facility, where pay starts at $1.15 an hour, according to the prison’s handbook. Before starting work at the factory, Ms. Holmes may take a test to assess her strengths in areas such as business, clerical, numerical, logic, mechanical and “social.” Inmates can also enroll in a “Lean Six Sigma” training program to learn about efficiency.

“We try to help our ladies obtain work in the factory which focuses on their strengths so they may develop additional marketable skills,” the prison’s handbook says.

Ms. Holmes, 39, was found guilty last year of four counts of wire fraud and conspiracy for falsely claiming that Theranos’s blood tests could detect a variety of ailments with just a few drops of blood. She and her former business partner, Ramesh Balwani, must together pay $452 million in restitution to investors who were defrauded. Ms. Holmes has appealed her case, though her requests to remain out of prison during the appeal have been denied.


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