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Lance Armstrong Ordered to Pay $10M

An arbitration panel ordered disgraced cyclist Lance Armstrong to pay $10 million in a fraud dispute with SCA Promotions. The sports insurance company announced the victory on Monday after asking a Texas court to confirm it. SCA Promotions paid Armstrong about $12 million in bonuses when he won his Tour de France titles. Tailwind Sports, which owned the U.S. Postal Service team for which Armstrong raced, is also liable for the $10 million. “Deception demands real, meaningful sanctions,” the panel wrote in its ruling, which was made on February 4.