You are here

Disgraced cyclist in massive fraud payout

Lance Armstrong has been ordered to pay SCA Promotions, a sports insurance company, $12.9 million in a fraud claim following the cyclists doping admission.

Source: Insurance Business

Armstrong, who had his seven Tour de France titles stripped when he admitted to a prolonged doping campaign last year, had been paid the money in bonuses following his title winning rides.

An arbitration panel in Texas ruled against Armstrong and he has been ordered to pay back the bonuses but has reportedly refused to do so, according to USA Today.

SCA Promotions believe the $12.9 million award to be the largest award of sanctions assessed against an individual, and comes following Armstrong’s vehement denial of doping that came to an end two years ago.

Read Full Article

 

Monthly News Archive