Elizabeth Holmes banned from federal health programs for 90 years

Federal regulators declared Friday that convicted fraudster Elizabeth Holmes founder of the defunct blood testing company Theranos, has been banned from involving in federal health programs for 90 years a lifetime ban.

The Officer of Inspector General OIG for the Department of Health and Human Services, HHS viewed Holmes 2022 conviction for fraud and conspiracy to commit wire fraud as the reason for her ban.

“Accurate and dependable diagnostic testing technology is imperative to our public health infrastructure. Dals statement related to the reliability of these medical products can endanger the health of patients and snow distrust in our health care system.”HHS Inspector General Christi A Grimm said.

Holmes was sentenced to roughly 11 years in prison for lying to investors about the capabilities of her blood testing technology. Sentence was reduced by 2 years

Theranos Coo Ramesh Sunny Balwani with whom Holmes had a relationship with as they ran the company had been excluded from federal programs also for 90 years.

OIG exclusion from federal health care program means Holmes will not be eligible to get benefits through programs like Medicaid or Medicare. She will not be able to work for an entity that get federal health care funding apart from limited scenario.

The length of Holmes’s exclusion is based on the application of several aggravating factors including the length of time the acts were incarceration, committed and the amount of restitution ordered to be paid.

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