Elizabeth Holmes, the founder of Theranos, has been banned from federal health programs for 90 years after being sentenced to 11 years in prison for fraud. Her company, which falsely claimed its blood-testing technology could run comprehensive tests with just a finger prick, misled investors and partners. The ban, significantly longer than the minimum five years, reflects the severity and duration of Theranos’ fraudulent activities. This prohibition effectively excludes Holmes from the healthcare industry, preventing her from receiving federal health program payments.
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[Source: STAT, January 19th, 2024]