Lance Armstrong Loses Arbitration Hearing
Published at
Gary Miller/FilmMagic
(DALLAS) — Lance Armstrong has been ordered to pay a Dallas-based promotions company $10 million for committing fraud.
A three person arbitration panel in Texas ruled 2-1 that Armstrong lied under oath in 2005, saying that he never used performance enhancing drugs.
SCA promotions accused the former cyclist of lying to obtain bonuses connected with winning seven Tour de France titles. In 2004, Armstrong sued SCA promotions for breach of contract when they withheld bonuses tied to a Tour de France victory. An arbitrator ruled in favor of Armstrong, awarding him $7.5 million.
In what is believed to be the largest penalty levied against an individual in American judicial history, SCA promotions filed paperwork with a Texas court to make the arbitration ruling final.
Earlier this month, Armstrong was involved in a car accident in Aspen and initially allowed his girlfriend to accept the blame. Police officials cited Armstrong for hit-and-run and exceeding safe a driving speed.
Copyright © 2015, ABC Radio. All rights reserved.