Theranos's Elizabeth Holmes hit with 90-year ban from federal health programs

Theranos founder Elizabeth Holmes on Friday received a 90-year ban from participating in federal health programs in light of her conviction on three counts of wire fraud and one count of conspiracy to commit wire fraud.

The determination will bar her from working for firms that receive healthcare funding from the government, albeit with some exceptions. Neither will she be eligible for aid programs such as Medicaid and Medicare, The Hill reported.

"The statutory minimum for an exclusion based on convictions like Holmes’s is five years. When certain aggravating factors are present, a longer period of exclusion is justified," the Department of Health and Human Services Office of the Inspector General announced. "The length of Holmes’s exclusion is based on the application of several aggravating factors, including the length of time the acts were committed, incarceration, and the amount of restitution ordered to be paid."

Formerly hailed as a biotech innovator, Holmes was convicted in 2022 and sentenced to 11 years in prison, though she managed to get the sentence reduced to two years. She reported to prison in May 2023.

During her November 2022 sentencing, Holmes expressed remorse for her actions, saying "I loved Theranos. It was my life's work ... I regret my failings with every cell of my body."

Ben Whedon is an editor and reporter for Just the News. Follow him on X, formerly Twitter.