Lance Armstrong to pay $10 Million Penalty for lying under Oath about using Performance-enhancing Drugs!
After lying under oath in 2005 while claiming that he never used performance-enhancing drugs, Lance Armstrong is now being slammed by an arbitration panel in Texas that handed him a $10 million penalty, which is reportedly the largest of such sanctions against an individual in American judicial history.
According to USA Today, the disgraced cyclist was ordered to pay the money to SCA Promotions, a Dallas sports insurance company that paid Armstrong’s bonuses for winning the Tour de France. “Perjury must never be profitable,” those were the words written in the panel’s ruling. The panel also said about Armstrong that he “expressed no remorse to the panel for their wrongful conduct and continued to lie to the panel throughout the final hearing even while admitting to prior falsehoods and other wrongful conduct.”