Lance Armstrong Loses $10 Million Arbitration Ruling
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Photo by Tom Pennington/Getty Images(DALLAS) — An arbitration panel in Texas has ruled disgraced cyclist Lance Armstrong has to pay $10 million to the sports insurance company that paid him bonuses for winning the Tour de France.
In their ruling, arbitrators found that Armstrong took part in an unparalleled pageant of international perjury, fraud, and conspiracy.
The company, SCA Promotions, had sued Armstrong for fraud.
Arbitrators also said that Armstrong intimidated and pressured witnesses to lie, while also using false and emotional appeal to perpetrate his lies.
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