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Armstrong Ordered to Pay $10 Million to Promotions Co

lance armstrong

Disgraced cyclist Lance Armstrong, pictured left during an Amgen race a few years ago in Pasadena. – Photo by Terry Miller

Cyclist Lance Armstrong has been ordered to pay $10 million Monday to a promotions company after an arbitration panel found he conducted an “unparalleled pageant of international perjury, fraud and conspiracy” against the company.

According to USA Today, the three-man arbitration panel ruled 2-1 in favor of SCA Promotions in its decision against Armstrong and Tailwind Sports Corp., a former co-owner for two of Armstrong’s teams.

SCA Promotions paid Armstrong about $12 million during his career. After the U.S. Anti-Doping Agency found Armstrong used performance-enhancing drugs throughout his career, the Dallas-based company sued him for fraud.

Armstrong had originally refused to pay. The case went to arbitration. During the arbitration hearing, Armstrong claimed he never used performance-enhancing drugs. SCA Promotions eventually settled the case, paying out $7.5 million.

Armstrong was stripped of his seven Tour de France titles and given a lifetime ban from competitive cycling in 2012. He admitted to using drugs during a 2013 interview with Oprah Winfrey.

 

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Posted by on February 20, 2015. Filed under Featured. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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