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Company Wants Lance Armstrong to Return $12M in Prize Money

Morne de Klerk/Getty Images(NEW YORK) -- As if Lance Armstrong didn't have enough to worry about, now he's being sued by a prize-insurance company for fraud.

Texas-based SCA Promotions Inc. hit the former cyclist with a lawsuit alleging that he and his agent tried to pull a fast one on the company that paid Armstrong $12 million for three of his seven Tour de France titles.

SCA cited Armstrong's "rampant drug use" as the reason it wants the money returned.  The company also alleged that Armstrong committed perjury in 2006 when he said "I race the bike straight up fair and square" during an arbitration hearing.

Last month in an interview with Oprah Winfrey, Armstrong admitted to using performance-enhancing drugs throughout his career, up through and including all his victories in the Tour de France, which have since been stripped by officials.

Meanwhile, in the face of a federal investigation for witness tampering, obstruction, and intimidation, Armstrong is now willing to testify to the United States Anti-Doping Agency (USADA) about drug use by himself and others in an effort to avoid a permanent ban from all sports competition.

Copyright 2013 ABC News Radio

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