Lance Armstrong agrees to $5 million settlement of federal lawsuit

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Lance Armstrong (Getty Pictures)

Discredited bike owner Lance Armstrong has agreed a $5 million settlement to a False Claims Act introduced towards him by former teammate Floyd Landis and the USA Postal Service (USPS).

Armstrong in 2013 admitted to doping throughout all seven of the years through which he appeared to win the Tour de France, solely to later be stripped of his titles.

The lawsuit relates to funds acquired from the USPS, which sponsored his group throughout six of these occasions.

A launch from the US Justice Division confirmed the settlement on Thursday.

“I’m glad to resolve this case and transfer ahead with my life,” Armstrong stated in a press release.

“I am wanting ahead to devoting myself to the various nice issues in my life – my 5 youngsters, my spouse, my podcast, a number of thrilling writing and movie tasks, my work as a most cancers survivor, and my ardour for sports and competitors. There’s a lot to look ahead to.”

The allegations have been initially introduced by Landis in 2010. He admitted to collaborating within the use of efficiency enhancing medicine as half of the workforce sponsored by the USPS.

Landis will obtain $1.1 million as his half of the settlement.

Appearing assistant lawyer basic for the Justice Division’s civil division Chad Readler stated: “Nobody is above the regulation. A competitor who deliberately makes use of unlawful PEDs not solely deceives fellow rivals and followers, but in addition sponsors, who assist make sporting competitions potential.

“This settlement demonstrates that those that cheat the federal government will probably be held accountable.”