Former Theranos CEO Elizabeth Holmes is banned from federal health programs for almost a century
Following her conviction on fraud charges, former Theranos CEO Elizabeth Holmes has been excluded from participating in federal healthcare programs — including Medicare and Medicaid — for 90 years, HHS Inspector General Christi Grimm said Friday.
The penalty is decades longer than the five-year statutory minimum for an exclusion based on similar convictions. But the HHS official said that “when certain aggravating factors are present, a longer period of exclusion is justified,” including the length of time the acts were committed, incarceration, and the amount of restitution ordered to be paid.
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