Lance Armstrong will pay federal government $5 million to settle fraud claims

Lance Armstrong.
(Image credit: George Burns/Oprah Winfrey Network via Getty Images)

Former professional cyclist Lance Armstrong has agreed to pay the federal government $5 million to settle fraud allegations, averting up to $100 million in penalties.

The U.S. Postal Service, which once sponsored Armstrong's team, argued that Armstrong defrauded taxpayers by accepting money while using performance-enhancing drugs, NPR reports. In a statement, the disgraced cyclist said he was ready to "move forward with my life." Chad Reader, acting attorney general for the Justice Department's civil division, said the settlement "demonstrates that those who cheat the government will be held accountable."

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Catherine Garcia, The Week US

Catherine Garcia has worked as a senior writer at The Week since 2014. Her writing and reporting have appeared in Entertainment Weekly, The New York Times, Wirecutter, NBC News and "The Book of Jezebel," among others. She's a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.