Lance Armstrong is being ordered to pay $10 million for lying about his use of performance-enhancing drugs.
The 43-year-old had refuted such claims when sports insurance company SCA Promotions
refused to pay him winning bonuses. “I race the bike straight up fair and square,” Armstrong had stated.
The company ended up paying him $12 million in bonus money, interest and legal fees. Armstrong is now paying $10 million of that back due to “an unparalleled pageant of international perjury, fraud and conspiracy,” according to the case’s arbitrators.
The court ruled 2-1 against him and Tailwind Sport, which managed his team. “It is hard to describe how much harm Lance Armstrong’s web of lies caused SCA but this is a good first start towards repairing that damage,” said SCA president Bob Hamman.
Armstrong says he plans on fighting the ruling.
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