First, he lost his seven Tour de France titles. Now Lance Armstrong is in danger of losing all of his money.
According to a USA Today report, Armstrong has been scaling back his spending over the past few months in preparation for the ruling, which isn't expected until the fall.
The disgraced former cyclist has been involved in months of legal wranglings with the United States government, which claims Armstrong owes them restitution. The short form of the lawsuit is that the government funded Armstrong's team to the tune of $40 million, something it claims it would not have done had it been aware of Armstrong's illegal use of performance-enhancing drugs, which he has since admitted to. Therefore, the government wants that money back and then some: roughly $100 million, a figure the government has reached by citing the False Claims Act.
Armstrong told the paper last year that he didn't have that much money.
In a decision last month, Judge ruled that the case would not be dismissed since the government has a compelling argument.
"The Postal Service clearly could have sought restitution -- repayment of the sponsorship fees -- as a remedy," Wilkins wrote, according to USA Today. "The Court holds that the plaintiffs have sufficiently pled that the defendants owed an obligation to pay money to the government due to the alleged breach of the sponsorship agreements as a result of the riders' doping."
In addition to the federal case, Armstrong stands to lose $12 million in a separate lawsuit in Texas.
quoted from here
According to a USA Today report, Armstrong has been scaling back his spending over the past few months in preparation for the ruling, which isn't expected until the fall.
The disgraced former cyclist has been involved in months of legal wranglings with the United States government, which claims Armstrong owes them restitution. The short form of the lawsuit is that the government funded Armstrong's team to the tune of $40 million, something it claims it would not have done had it been aware of Armstrong's illegal use of performance-enhancing drugs, which he has since admitted to. Therefore, the government wants that money back and then some: roughly $100 million, a figure the government has reached by citing the False Claims Act.
Armstrong told the paper last year that he didn't have that much money.
In a decision last month, Judge ruled that the case would not be dismissed since the government has a compelling argument.
"The Postal Service clearly could have sought restitution -- repayment of the sponsorship fees -- as a remedy," Wilkins wrote, according to USA Today. "The Court holds that the plaintiffs have sufficiently pled that the defendants owed an obligation to pay money to the government due to the alleged breach of the sponsorship agreements as a result of the riders' doping."
In addition to the federal case, Armstrong stands to lose $12 million in a separate lawsuit in Texas.
quoted from here
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