Can anyone verify if this is true?
I would gladly donate a paycheck to King Lance. He has supplied me with WAY MORE sports enjoyment since the early 2000s than ANY track athlete.
all pro athletes cheat, lance was the most fun to cheer for, hands down.
I'll donate.
DW wrote:
when he saw the lawsuits coming.. he probably just took out $10M+ and put it in a safe and had it burried in someones backyard.
How could anyone stop him from doing this? and how will they ever find the money?
Banks are required to report withdrawals of greater than $10K to the IRS. Sales of stock and other assets also need to reported. There will be plenty of paper/electronic trails to track the movement of his funds.
These regulations in place to prevent exactly what you have suggested and money laundering by criminals. If he tries to hide that much money he is likely to end up in prison.
harder than you think wrote:
Banks are required to report withdrawals of greater than $10K to the IRS. Sales of stock and other assets also need to reported. There will be plenty of paper/electronic trails to track the movement of his funds.
These regulations in place to prevent exactly what you have suggested and money laundering by criminals. If he tries to hide that much money he is likely to end up in prison.
hypothetical situation... but you catch my drift. He's had 7+ years to do that and has the world's best lawyers and accountants dealing with his money. It's not too hard to throw it into an untraceable investment off-shore.
Just like huge multi-national corporations throw the majority of their money into overseas tax-shelters and save billions each year. They're just smarter than everyone else... i'm not saying its legal, but the ethical line in accounting can be stretched.
I thought BK stood for Burger King and was hoping he was filing an application for employment. I don't care for BK, but if Lance was working at one, I would consider stopping by.
And it would be fitting for Lance, especially, because he could just keep serving up Whoppers like he's been doing for the past 15 years.
So, theoretically could Lance have hidden his money in Livestrong somehow? Either arrange for them to pay him in some bizarre trust, or "donate" his money, or something like that?
I feel bad for him. Just because he's a total sack of shi* sociopath who tried to destroy innocent people's lives doesn't mean I can't feel bad for him...keep on truckin', Lance.
Not to be a jerk, but I think total loss of all financial assets should have been part of his originally penalty from USADA. Why should he get to keep the money from endorsements that he obtained by cheating?
Let me guess..You support bekele, el G, lagat, rupp, farah, wiggins, phelps, lemond, etc. right?
sasdv wrote:
Not to be a jerk, but I think total loss of all financial assets should have been part of his originally penalty from USADA. Why should he get to keep the money from endorsements that he obtained by cheating?
jmxj wrote:
dartmoth graduate wrote:Armstrong has done more good for society than all of you LRs combined.
You'll have to troll a bit better than that
Livestrong would not be around if it wasn't for Armstrong. I don't know much about the organization, but I would guess they have impacted the lives of many in a positive way. If Armstrong was responsible for millions of dollars being given that would not have been given otherwise, then he has done a lot of good for society, specifically those dealing with cancer.
sasdv wrote:
Not to be a jerk, but I think total loss of all financial assets should have been part of his originally penalty from USADA. Why should he get to keep the money from endorsements that he obtained by cheating?
USADA certainly doesn't have that authority. Also, you can't declare bankruptcy in anticipation of insolvency I think. Moreover, personal bankruptcy is pretty hard to file these days; in this way, it is unlike corporate bankruptcy, which is easy to file (the idea being that corporations are too hesitant to file for bk because of public image, and so the rules are easier). Howeveer, for personal bk, I think you have to meet a bunch of conditions. In any case, Lance put a lot of money in untouchable financial instruments and trusts for practical purposes a long time ago I'm sure.
When is Nike going to return all the money it made off of Lance to its customers?
Mick Lovin wrote:
Many wealthy file bankruptcy to avoid the IRS and plaintiffs to obtain what is rightfully theirs.
I would bet any sum that Lance is living well in Austin, and smiling
You cannot file bankruptcy to avoid paying taxes to the IRS. IRS liens and levies are not removed in any type of bankruptcy.
grapevines wrote: all pro athletes cheat, lance was the most fun to cheer for, hands down.
I don't condone cheating or PED use. I don't believe that ALL pro athletes cheat, and I don't believe that ALL pro cyclists cheat. However, there is absolutely no argument that Armstrong's doping exploits did nothing more than level the competitive field when he was competing in the TDF.
So I agree. All things being equal - and they were - it was glorious to watch Armstrong ride and win.
financial woes wrote: A couple ex-wives, alimony and child support. That stuff, plus the lawsuits add up. Karma is a bitch, eh Lance?
Everybody loves the trash the guy (and deservedly so) for cheating and being a general arse. But in quiet solitary moments, do you think Armstrong ever feels genuine remorse? Not just feeling bad for getting caught, but genuine remorse for his choices and being the sort of person he was during the height of all the denials.
Or is he just a psychopath with no conscience?
By the way, he's been divorced twice?
He is clearly hurting as he has only purchased two homes this year (he sold the first after only a few weeks) and has downsized into only 7000+ sq feet.
robert paulson wrote:
He is clearly hurting as he has only purchased two homes this year (he sold the first after only a few weeks) and has downsized into only 7000+ sq feet.
http://www.dailymail.co.uk/news/article-2356617/Lance-Armstrong-moving-house-Disgraced-cyclist-sells-4-3m-dollar-hideaway-Texas-just-SIX-WEEKS-buying-purchases-pad-days-later.html
I know nothing about the location. I know nothing about architecture. But the exterior of that house might be among the ugliest I've ever seen.
Broken Record wrote:
However, there is absolutely no argument that Armstrong's doping exploits did nothing more than level the competitive field when he was competing in the TDF.
Perfect moniker for this tired and overused defense of Armstrong's cheating. If there weren't clean cyclists, why did other dopers apologize to all the clean cyclists?
How do we determine when using PEDs is cheating or just "leveling the playing field?" Ben Johnson thought he was just doing what everyone else was doing.
Two things:
Lance like a lot of wealthy people fail to downsize when their income status changes. At age 40, the average person could live the rest of their lives off of 2 million dollars, but not if you still have a personal chef and send your kids to expensive private schools etc.
Lance is not broke in the way most of us think about it; however, he will be broke if continues to live like a multimillionaire.
rekrunner wrote:
No link?
Most relevant post on the entire thread.
Ben Johnson thought he was just doing what everyone else was doing.
Ben was right, he was just doing what everyone else was doing.