Elizabeth Holmes will spend 11 years in jail. Look up Martha Stuart or Al Taubman. Plenty of others. Enron Ken Lay died in prison. Wordcom CEO got like 25 years. Rich people do go to jail for long periods as well.
According to Wikipedia, Martha Stewart served five months in prison. She "avoided a loss of $45,673 by selling all 3,928 shares of her ImClone Systems stock on December 27, 2001, after receiving material, nonpublic information from Peter Bacanovic, her broker at Merrill Lynch. The day following her sale, the stock value fell 16%."
The Stewart case was a colossal joke. They wanted to make an example out of a rich celebrity. And the case did indeed highlight how rich people don't always play by the rules, and she got caught. I'm not saying nothing illegal happened. But the real criminals were her broker and the CEO of ImClone, a guy named Sam Waskal. Waskal got seven years and served 85% of his sentence. Her broker only got five months.
I'm not convinced that Stewart knew she was making decisions based on illegally obtained insider information. People who are that rich live in a bubble, and they follow the advice of their handlers. That doesn't mean she was innocent. But she got a slap on the wrist. The amount of money involved, for her, was ridiculously small. $45K is not that much money even to a few people here in the ET community. For Martha Stewart, that's probably just a morning shopping trip in the Cayman Islands.
Sam Waksal sold a lot his stock in advance of negative news from the FDA. That was real insider trading, and that's why he got seven years.