Elizabeth Holmes Elizabeth Holmes, founder and CEO of Theranos, speaks at the Fortune Global Forum in San Francisco. Forbes announced on June 1, 2016, that it has revised its estimate of Holmes net worth from $4.5 billion to nothingElizabeth Holmes Forbes Estimate, San Francisco, USA

Elizabeth Holmes has made her first court appearance — minus her signature fashion look.

Holmes, the chief executive officer of the now-defunct Theranos — which was billed as a revolutionary health-care company — appeared in a San Jose, Calif. federal courthouse on Monday for a status hearing.

While the former executive has been charged for nine counts of wire fraud and two counts of conspiracy to commit fraud through her company, she raised eyebrows today for her sartorial choice: a light gray suit with a blue button-down shirt. In the recent HBO documentary, “The Inventor: Out for Blood in Silicon Valley” and in her many appearances before being charged, Holmes stuck to a uniform of a black turtleneck.

Holmes’ code of dressing has sparked a number of think pieces on the black turtleneck as a power move — classic, but confident and effortless, but serious — and the ways it can be used as an illusion to evoke a sense of authority. Many pieces have highlighted the signature uniform of Steve Jobs as a reference point for the Theranos founder.

Holmes was charged in March 2018 for raising over $700 million from investors for her Theranos company, which boasted innovative technology that could revolutionize blood testing. It was discovered that no such technology existed.

Theranos president, Ramesh Balwani, is also being charged in this scheme. According to legal documents released by the U.S. Attorney’s Office in the Northern District of California, Holmes and Balwani are being charged for defrauding doctors and patients through false claims and omitting information on Theranos’ capabilities.

If convicted, Holmes faces a maximum of 20 years in prison, a fine of $250,000 and restitution for each count of wire fraud and conspiracy. She has pled not guilty to the charges.

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