Lance Armstrong to pay $5M settlement in US fraud case – lawyer

first_imgJo Koy draws ire for cutting through Cebu City traffic with ‘wang-wang’ P16.5-M worth of aid provided for Taal Volcano eruption victims — NDRRMC The Washington Post reported Armstrong would also pay $1.65 million to cover the legal costs of former team-mate and whistleblower Landis.“I am glad to resolve this case and move forward with my life,” Armstrong, 46, said in a statement. “I’m looking forward to devoting myself to the many great things in my life – my five kids, my wife, my podcast, several exciting writing and film projects, my work as a cancer survivor, and my passion for sports and competition. There is a lot to look forward to.”‘Full responsibility’Although Armstrong maintained he believed the US Postal case was “without merit and unfair” he said he was pleased to have settled.“I have since 2013 tried to take full responsibility for my mistakes, and make amends wherever possible,” he said, reflecting with pride on his performances in a US Postal jersey. “I rode my heart out for the Postal cycling team, and was always especially proud to wear the red, white and blue eagle on my chest when competing in the Tour de France. Those memories are very real and mean a lot to me.”ADVERTISEMENT Lance Armstrong (AP FILE PHOTO)Lance Armstrong has agreed to pay $5 million in order to settle the looming federal fraud case stemming from his drug-fueled reign as king of the Tour de France, it was confirmed on Thursday.The former cycling superstar was due to face a trial next month over claims he defrauded the United States government when he doped while racing for his US Postal Service-sponsored team.ADVERTISEMENT Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award Scientists seek rare species survivors amid Australia flames The Postal Service and former team-mate Floyd Landis had sought around $100 million in damages from Armstrong in the case, which was due to get underway on May 7.However the prospect of a ruinous judgment going against the cancer survivor was averted after Armstrong’s lawyers and the US Justice Department brokered a settlement.FEATURED STORIESSPORTSGinebra beats Meralco again to capture PBA Governors’ Cup titleSPORTSAfter winning title, time for LA Tenorio to give back to Batangas folkSPORTSTim Cone, Ginebra set their sights on elusive All-Filipino crown“No one is above the law,” US Justice Department lawyer Chad Readler said in a statement announcing the deal. “This settlement demonstrates that those who cheat the government will be held accountable.”Armstrong’s attorney Elliot Peters said in a statement the settlement “ends all litigation against Armstrong related to his 2013 admission that during his career as a professional cyclist he had used performance enhancing substances.” ‘Stop romanticizing Pinoy resilience’ Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew Don’t miss out on the latest news and information. View comments Green group flags ‘overkill’ use of plastic banderitas in Manila Sto. Niño feast LATEST STORIES Armstrong’s personal fortune had been estimated at around $125 million in 2012. But since his dramatic fall, he has lost lucrative sponsorship deals and in 2015 was ordered to pay back $10 million in bonus payments given to him by Dallas-based SCA Promotions relating to his Tour wins in 2002, 2003, and 2004.The Washington Post reported he had recently listed his home in Austin, Texas for sale at $7.5 million. The fallen US cycling star had battled back from cancer to win cycling’s most prestigious race, the Tour de France, a record seven consecutive times between 1999 and 2005. Although rumors of drug use swirled around Armstrong throughout his career, he never failed a test.However, his reputation imploded when the US Anti-Doping Agency wrapped up an investigation, which concluded he had been at the heart of a sophisticated doping program throughout his career.Armstrong later confessed to using performance-enhancing drugs, and was banned from all competitions for life and stripped of his seven Tour de France titles.                         /kgaSports Related Videospowered by AdSparcRead Next MOST READ Volcano watch: Island fissures steaming, lake water receding In fight vs corruption, Duterte now points to Ayala, MVP companies as ‘big fish’ Perennial Palaro champ NCR pulls away with 38 golds Truck driver killed in Davao del Sur road accidentlast_img read more