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Not a good day for Lance
 

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dan emery
Joined: 11 Jan 2004
Posts: 6882
Location: Maine

2/22/13 5:34 PM

Not a good day for Lance

Just saw that the Department of Justice is joining Floyd's qui tam (whistleblower) action:

http://www.cnn.com/2013/02/22/us/doj-armstrong-lawsuit/index.html?hpt=hp_t1

I haven't followed the facts or law closely on this, but in general qui tam actions can be serious business and serious $$$. And Floyd and his lawyers could do pretty well if this is successful.

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ErikS
Joined: 19 May 2005
Posts: 8337
Location: Slowing boiling over in the steamy south, Global Warming is real

2/22/13 6:49 PM

Jail time for fraud?

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daddy-o
Joined: 12 Apr 2004
Posts: 3307
Location: Springfield

2/22/13 7:56 PM

When I heard it I wondered if they are going to charge interest, then a vision of Lance playing pickup races around Central Park for money appeared.

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JohnC
Joined: 10 Jan 2004
Posts: 1939
Location: Glastonbury, Ct

2/22/13 9:29 PM

This could be less good news for Landis. In a qui tam action you bring an action that benefits the government, and you get a cut of the proceeds because you were able to provide unique input, usually because of your unique knowledge of the facts. If the government now prosecutes in its own name, Landis's contribution may be insignificant, or moot, and his share reduced, perhaps to nothing.

As for criminal prosecution and jail time, I think that's possible, but there would have to be separate criminal case filed. This is a civil case, in which only money damages can be awarded.

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dan emery
Joined: 11 Jan 2004
Posts: 6882
Location: Maine

2/23/13 4:58 AM

Not so sure Floyd is sad

I'm no qui tam expert, but the government has a right to intervene in any qui tam case - that's part of the procedure. I think most plaintiffs (technically "realtors") want the government to intervene, they don't to try a massive, complex case themselves. Plus government involvement gives credibility to the case. If the government intervenes, it's because they think the case is a winner. Floyd filed this, no one else did, and the gov previously decided not to pursue a criminal case with similar allegations. I think Floyd is looking at 15 - 25% of treble damages, plus attorney fees, if this is successful. I don't know why that would be reduced. There is a reason that some law firms specialize in qui tam cases.

Of course, the suit may well be settled. I've read that Lance previously offered $5 million, which was rejected. This ups the ante. I think Floyd does OK with a settlement as well.

Criminal sanctions would take a separate action, I read that is under consideration.

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