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Lance Armstrong Loses Arbitration Hearing

Lance Armstrong Loses Arbitration Hearing

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.

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Lance Armstrong: I Would Dope Again

Lance Armstrong: I Would Dope Again

Gary Miller/FilmMagic

(NEW YORK) -- Disgraced cyclist Lance Armstrong admitted he would cheat again if the circumstances were right.

"If I was racing in 2015, no, I wouldn't do it again because I don't think you have to do it again," Armstong said in an interview with the BBC. "If you take me back to 1995, when it was completely and totally pervasive, I would probably do it again."

Armstrong admitted to Oprah Winfrey in January 2013, after years of denying any wrongdoing, that he did dope while winning seven straight Tour de France championships.

Armstrong blames the culture of racing back in the 2000s, during which time he claims the vast majority of cyclists were using some sort of performance-enhancing substance to get an advantage.

"When I made that decision, when my teammates made that decision, the whole peloton made that decision, we get it," Armstrong said. "It was a bad decision in an imperfect time, but it happened."

Armstrong was stripped of his seven Tour de France titles and was removed as chairman of the Livestrong Foundation, the charitable organization he founded, after evidence proved he cheated.

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

Company Wants Lance Armstrong to Return $12M in Prize MoneyTom Pennington/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 hi...

Emotional Lance Armstrong Comes Clean with Oprah

Emotional Lance Armstrong Comes Clean with OprahGeorge Burns/Oprah Winfrey Network via Getty Images(NEW YORK) -- The truth is officially out about cyclist Lance Armstrong.  In an interview with Oprah Winfrey that aired Thursday, the 41-year-old Armstrong admitted to using performance-enhancing ...

IOC Strips Lance Armstrong of Olympic medal

IOC Strips Lance Armstrong of Olympic medalTom Pennington/Getty Images(LONDON) -- The IOC has stripped Lance Armstrong of his bronze medal at the 2000 Sydney Olympic Games, ABC News has confirmed. The news comes after Armstrong admitted to Oprah Winfrey that he took performance enhancing drugs ...

Armstrong Stripped of Tour De France Victories, Banned from Sport

Armstrong Stripped of Tour De France Victories, Banned from SportTom Pennington/Getty Images(GENEVA) -- The International Cycling Union (UCI) sided with the U.S. Anti-Doping Agency (USADA) on Monday, stripping Lance Armstrong of his seven Tour de France titles and banning him from the sport for life.Announcing the d...

Lance Armstrong’s Teammates Claim He Doped

Lance Armstrong’s Teammates Claim He DopedGail Oskin/Getty Images(COLORADO SPRINGS, Colo.) -- Eleven of Lance Armstrong's former teammates who helped cycling's greatest champion clinch seven victories at the Tour de France, say they also helped Armstrong use performance enhancing substances, a...

Lance Armstrong Banned From Running Chicago Marathon

Lance Armstrong Banned From Running Chicago MarathonGary Miller/FilmMagic(CHICAGO) -- Lance Armstrong has been banned from running the Chicago Marathon, according to his foundation. Spokeswoman Katherine McLane announced on Friday that Armstrong will not be allowed to participate in the race, which is s...

Former Cyclist Tyler Hamilton Comes Clean in New Book

Former Cyclist Tyler Hamilton Comes Clean in New BookAlexander Hassenstein/Bongarts/Getty Images(NEW YORK) -- Former cyclist, Tyler Hamilton has a new book out called The Secret Race, Inside the Hidden World of the Tour de France: Doping, Cover-Ups and Winning at All Costs. In the book, Hamilton recalls ...

Lance Armstrong: I Won the Tour de France Seven Times

Lance Armstrong: I Won the Tour de France Seven TimesGail Oskin/Getty Images(MONTREAL) -- Even after having his seven Tour de France titles stripped last week by the U.S. Anti-Doping Agency, Lance Armstrong will not let that affect the way he represents himself. "My name is Lance Armstrong. I am a cancer...

2012 Olympics: Day 16 Recap

2012 Olympics: Day 16 RecapBill Clark/Getty Images(LONDON) -- Track And Field Marathon – Gold: Stephen Kiprotich of Uganda; Silver: Abel Kirui of Kenya; Bronze: Wilson Kopsang Kiprotich of Kenya;Volleyball Men’s – Gold: Russia; Silver: Brazil; Bronze: Italy;Cyc...

Lance Armstrong Slapped with Fresh Doping Charges

Lance Armstrong Slapped with Fresh Doping ChargesMorne de Klerk/Getty Images(WASHINGTON) -- Former cyclist Lance Armstrong has been banned from competing in triathlons and could be stripped of his seven Tour de France titles after the U.S. Anti-Doping Agency brought formal doping charges against him,...

Lance Armstrong Faces Doping Charges From USADA

Lance Armstrong Faces Doping Charges From USADAGail Oskin/Getty Images(AUSTIN, Texas) -- The U.S. Anti-Doping Agency intends to file doping charges against former cyclist Lance Armstrong, which could result in him being stripped of his seven Tour de France titles.The USADA sent a letter to the 40-y...

Stray Dog Runs With Cyclists Across China

Stray Dog Runs With Cyclists Across ChinaiStockphoto/Thinkstock(NEW YORK) -- A stray dog completed a 1,100-mile trek across China, climbing 12 mountains in nearly 25 days.  All it took to get the dog to complete the mission was giving it a bone.The tenacious pup, nicknamed “Xiaosa,...

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