Theranos fraudster Elizabeth Holmes is about to transition from her $9 million beachfront home to the “Club Fed” prison, where she’s set to work for $1.15 an hour, RadarOnline.com has learned.
Holmes is expected to surrender to authorities later this week as she finally begins her 11-year prison sentence after several legal attempts to delay her sentence.
The “Club Fed” is a minimum security federal prison in Bryan, Texas. It’s reportedly one of the comfiest holding facilities in the US and has been home to some of the highest-profile inmates in the business world.
Former Real Housewives of Salt Lake City star Jen Shah was sent to Bryan in February to serve her six-and-a-half-year sentence for her part in a telemarketing scam targeting elderly and vulnerable Americans.
Former prisoners include January 6 rioter Jenna Ryan and Hot Pockets heiress Michelle Janavs.
Prisoners at Club Fed don’t even sleep in cells, instead sharing four-person rooms with bunk beds similar to that of a college dorm.
The facility also offers several hobbies and activities for prisoners, including crocheting various articles of clothing, which the inmates can sell off for $1.30.
According to the facility’s handbook for new prisoners, residents are scheduled to wake up is 6 am. Sleeping in or failing to stay tidy is said to result in disciplinary action. The joint unit with the best “sanitation rating” is given first dibs for meals, with the worst being called last to eat.
Holmes raised almost $1 billion from sophisticated investors, including Oracle co-founder Larry Ellison and Fox News media mogul Rupert Murdoch soon after she dropped out of college in 2003 to found Theranos.
She claimed that her company’s innovations would “revolutionize healthcare” – with a technology that would be able to scan for hundreds of diseases and other potential health problems by analyzing only a few drops of blood.
The pitch made her rich within months, but the company would ultimately collapse after it came out that the test was nowhere near working. She was convicted of defrauding investors of $100 million and owed Murdoch $125 million as part of a restitution order.