Official Lance Armstrong Thread **READ POST #1 BEFORE POSTING**

[Benotti69]

I dunno. I've been waiting for that Public Strategy one for awhile now.

You'll be waiting just like Salvodelli

 

[Race Radio]

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[thehog]

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http://thestir.cafemom.com/sports/126353/lance_armstrong_needs_to_stop

 

[mewmewmew13]

His birthday was today.

Sorry for your loss Oldman. Thoughts and wishes for you...
cancer is an awful thing.

 

[thehog]

http://www.youtube.com/watch?v=p-wnIbXeeDU

Oh, that has to suck. Wonderboy getting dropped on a climb by a TriAthlete

Word is after the race he was frantically looking around the parking lot for an RV to jump into.

That's the funniest thing I've seen in a long time.... I love the sheepish glance he makes towards the camera as he labours past.

 

[ChrisE]

That's the funniest thing I've seen in a long time.... I love the sheepish glance he makes towards the camera as he labours past.

It looks like he forgot to spin a little gear.

 

[JMBeaushrimp]

It looks like he forgot to spin a little gear.

Looks like he forgot all his "gear"...

 

[thehog]

Looks like he forgot all his "gear"...

Classic!!!! Love it!!!

 

[thehog]

Velo just coming back to this.... can you explain more on portion below? Who would be inspecting the documents? And is it a coincidence that it's occurred at the same time as the Federal investigation?


Livestrong has not published on its website the 2010 audited financial statements although, according to their 2010 Annual Report, these documents exist and were completed in early 2011.

Livestrong.org had admitted on their website that their records have been undergoing an inspection. Whether this is a normal procedural compliance check or is abnormal is not stated.

There are blurred lines between Armstrong and Livestrong.org in their conduct of charitable operations.

It is for the IRS to enforce compliance of a public charity for ongoing exemption status. Possibly the IRS have Livestrong.org in their cross hairs with his conduct.

Livestrong has not published on its website the 2010 audited financial statements although, according to their 2010 Annual Report, these documents exist and were completed in early 2011.

Livestrong.org had admitted on their website that their records have been undergoing an inspection. Whether this is a normal procedural compliance check or is abnormal is not stated.

To maintain exemption a charity must not be operated for the benefit of private interests. Notwithstanding that any transactions between the charity and related interests must be disclosed in the annual statements.

The 2006 Annual Financial Statements and Report did not disclose that $500,000 was paid by Livestrong.org in May 2006 to a medical facility employing Dr. Craig Nicholls. In 2006 Dr Nicholls was secretary of Livestrong and on the Board of Directors. No disclosure was made of this conflict of interest donation.

Dr Nicholls also provided an affidavit in 2005 during the 2005 SCA Tribunal case that he was in the hospital room at the relevant time when LA allegedly spouted his past PED use and claimed he heard no such conversation. Other witnesses could not identify Dr Nicholls as being in the room from his photograph.

Within days of becoming aware of Betsy Andreu's SCA tribunal affidavit Livestrong donated $1.5m to University of Indiana Hospital. The hospital resisted in identifying the doctors attending to LA. Was the prime purpose of this donation to personally benefit LA's legal position?

If Livestrong.org was paying a third party for costs relating to the Gulfstream jet, whether proper or not, and LA's personal legal costs these transactions should have been disclosed. No disclosure was made.

The issue of substantial share warrants to Livestrong and (equally) to LA for the sub licensing of the Livestrong brand and purchase of Livestrong.com was not disclosed in the Livestrong statements.

I would not be surprised if the IRS in their investigation of LA have included Livestrong. The IRS could slug him with an excise tax to the extent of the value of the non complying personal benefits he obtained from Livestrong and also withdraw Livestrong's tax exemption status.

 

[MD FACG FACP]

It looks like he forgot to spin a little gear.

That is funny !

 

[Velodude]

Velo just coming back to this.... can you explain more on portion below? Who would be inspecting the documents? And is it a coincidence that it's occurred at the same time as the Federal investigation?


Livestrong has not published on its website the 2010 audited financial statements although, according to their 2010 Annual Report, these documents exist and were completed in early 2011.

Livestrong.org had admitted on their website that their records have been undergoing an inspection. Whether this is a normal procedural compliance check or is abnormal is not stated.

Charitable foundations come under IRS scrutiny. At the time I was unaware if it was normal practice for the IRS to undertake random compliance audits on tax exempt foundations.

Since I understand that the IRS will target foundations on receipt of complaints or from their own analysis if foundation executives are being over remunerated.

"The IRS follows strict procedures involving selection of tax-exempt organizations for audit and resolution of any complaints about such groups."

It is highly probable that any investigation of Livestrong by the IRS could have been alerted by criticisms of over remuneration of executives over the internet. To normal salary and associated benefits may be added the speculation that Livestrong may be improperly underwriting LA's travel and legal expenses which would qualify, IMO, as a benefit to a foundation executive (LA).

It could be a coincidence that the alleged IRS investigation is in train apart from the Federal investigation but more likely that the Fed investigation has created interest and comment in anything "Lance Armstrong" and analysts are putting forward their opinions on the financial conduct of Livestrong. These adverse opinions may have attracted the IRS branch of the Fed investigation.

Livestrong have withheld internet publishing their 2010 financial statements. One must suspect the content may aggravate the high level of questionable payments to and on behalf of Livestrong executives.

 

[thehog]

Thanks. The timing is indeed interesting. Livestrong have always confidently paraded their financials so that why I find in more than just coincidence.

I would think the IRS are sending requests for information and that can take time.

My concern and I really do hope not but there's something "Enron" about all of this... just seeing the way Tailwind & Demand IPO was handled doping will be the last thing anyone will be talking about.

Charitable foundations come under IRS scrutiny. At the time I was unaware if it was normal practice for the IRS to undertake random compliance audits on tax exempt foundations.

Since I understand that the IRS will target foundations on receipt of complaints or from their own analysis if foundation executives are being over remunerated.

"The IRS follows strict procedures involving selection of tax-exempt organizations for audit and resolution of any complaints about such groups."

It is highly probable that any investigation of Livestrong by the IRS could have been alerted by criticisms of over remuneration of executives over the internet. To normal salary and associated benefits may be added the speculation that Livestrong may be improperly underwriting LA's travel and legal expenses which would qualify, IMO, as a benefit to a foundation executive (LA).

It could be a coincidence that the alleged IRS investigation is in train apart from the Federal investigation but more likely that the Fed investigation has created interest and comment in anything "Lance Armstrong" and analysts are putting forward their opinions on the financial conduct of Livestrong. These adverse opinions may have attracted the IRS branch of the Fed investigation.

Livestrong have withheld internet publishing their 2010 financial statements. One must suspect the content may aggravate the high level of questionable payments to and on behalf of Livestrong executives.

 

[Cimacoppi49]

It has been reported for some time that the IRS is participating in the investigation. I have always assumed that Livestrong was at least a tangential line of inquiry for them given how they are joined to Armstrong at the hip. The failure of Livestrong to puff the latest financials is indicative of deep problems setting in for them and Armstrong. It will be interesting to see if the IRS starts freezing their assets.

 

[spetsa]

My college roommate was a champion (Soccer). Played on the US National team, Professionally in Europe. He fought, hard. Tried everything but there was no chance.

I flew out to spend a last weekend with him and as I drove him around to various lawyers, therapists, and insurance etc he was ****ed. Why was he, a guy who had spent his life taking care of his body, dying in his 30's while 400 pound people lumbered around everywhere? It made no sense

I never brought up Armstrong as I did not waste my limited time with him....but he eventually brought him up. He mentioned how his doctor thought he was a scam artist. Got a laugh out of that.

I have tried to find a link, but was not able to, but does anyone remember the post surgery photo (promotional I believe) of LA with a scar from navel to sternum? What ever happened to that, the scar I mean. Seems to me he must have had a pretty good plastic surgeon on his payroll also.

 

[Cloxxki]

I have tried to find a link, but was not able to, but does anyone remember the post surgery photo (promotional I believe) of LA with a scar from navel to sternum? What ever happened to that, the scar I mean. Seems to me he must have had a pretty good plastic surgeon on his payroll also.

Just to echo your words. If you remember correctly, I'd be interested to hear about it. The guy now likes to misplace his shirt when a camera is around, and such a scar would definately be mentioned, is being oh so bad he had to live through cancer and all.
I also could find not better than http://www.google.com/imgres?imgurl...sa=N&rls=com.microsoft:*&tbm=isch&um=1&itbs=1

 

[thehog]

I have tried to find a link, but was not able to, but does anyone remember the post surgery photo (promotional I believe) of LA with a scar from navel to sternum? What ever happened to that, the scar I mean. Seems to me he must have had a pretty good plastic surgeon on his payroll also.

I think it appears in his first book does it not? But right you are... it has completely disappeared. Obviously embarrassed about being a survivor.

 

[powerste]

I also could find not better than http://www.google.com/imgres?imgurl...sa=N&rls=com.microsoft:*&tbm=isch&um=1&itbs=1

How many cyclists break their CBs every year? And it's LA the attention wh**e who just HAS to show us his scar...

 

[spetsa]

How many cyclists break their CBs every year? And it's LA the attention wh**e who just HAS to show us his scar...

At least this one wasn't faked to sell a book and a foundation!

 

[fatandfast]

It has been reported for some time that the IRS is participating in the investigation. I have always assumed that Livestrong was at least a tangential line of inquiry for them given how they are joined to Armstrong at the hip. The failure of Livestrong to puff the latest financials is indicative of deep problems setting in for them and Armstrong. It will be interesting to see if the IRS starts freezing their assets.

The IRS is a god sent gift to Armstrong. If you are not from the US you have no idea of our tax system. Accountants and lawyers will be able to reference 100's of places in the tax code where there may have been a problem, oops we are sorry, pay a fine and move on. If anybody thinks that a few 1000 from selling bikes and other shop clutter on ebay is going to take down a multimillion dollar company in the US you should pay closer attention.

Who knows how many layers of non profit status Lance's income is filtered thorough. The chance of the IRS freezing any livestrong assets because of a doping scandal is zero.
Almost never is the IRS your friend or a relationship with them beneficial but with the way Lance's income is hyper manipulated, it's a great thing for him. trips all around the globe all of it done in the name of charity. I would love to see the itemized list from the Tour Down Under. Plane,hotel, food,ground transport, misc expenses all on the cancer hospital opening. Even more deductions for charity rides w fellow tweeters. Few 1000 dollars toward race expenses. 99% of the trip done under some non profit tax shelter rules

 

[Anonymous]

The IRS is a god sent gift to Armstrong. If you are not from the US you have no idea of our tax system. Accountants and lawyers will be able to reference 100's of places in the tax code where there may have been a problem, oops we are sorry, pay a fine and move on. If anybody thinks that a few 1000 from selling bikes and other shop clutter on ebay is going to take down a multimillion dollar company in the US you should pay closer attention.

Who knows how many layers of non profit status Lance's income is filtered thorough. The chance of the IRS freezing any livestrong assets because of a doping scandal is zero.
Almost never is the IRS your friend or a relationship with them beneficial but with the way Lance's income is hyper manipulated, it's a great thing for him. trips all around the globe all of it done in the name of charity. I would love to see the itemized list from the Tour Down Under. Plane,hotel, food,ground transport, misc expenses all on the cancer hospital opening. Even more deductions for charity rides w fellow tweeters. Few 1000 dollars toward race expenses. 99% of the trip done under some non profit tax shelter rules

Who knows how many layers of non profit status Lance's income is filtered thorough.

This is all public information (for non-profit corp's). There is no hiding once the spotlight is on.

The chance of the IRS freezing any livestrong assets because of a doping scandal is zero.

I'm not so sure. The tax evasion stuff is real and serious. If there is even a whiff of LA co-mingling dollars between himself/Livestrong.org/Ferrari/Swiss shell company... if that link can be shown then LA's going to prison.

 

[fatandfast]

This is all public information (for non-profit corp's). There is no hiding once the spotlight is on.



I'm not so sure. The tax evasion stuff is real and serious. If there is even a whiff of LA co-mingling dollars between himself/Livestrong.org/Ferrari/Swiss shell company... if that link can be shown then LA's going to prison.

First off co-mingling money is legal. Tax evasion is not legal but given the fact that I am sure Armstrong probably didn't even use his own hand to sign any tax return it's going to be a stretch to show that he did something worthy of jail.
If he did receive a service for money from Ferrari or his son, again it is so far legal. Smart, no way. There appears to be this big cloud of nothing over the Doctors head. Scumbg, for sure, non grata in the Italian cycling fed..absolutely. Be real if he avoids that few 100 people associated w the Italian fed he shouldn't have too much trouble. His face on the most wanted poster is only pinned up there and w knowledgeable cycling fans.
Regular people can't pick him out if he were next to them at the market. The big American thing Ferrari has going for him is that he was absolved of wrong by everybody but the Italian fed, he is innocent. People are saying ghost and shell, but starting a company in Switzerland is legal. The fact that he continued possibly to dabble in helping Italian bike racers again is for a court to decide. The guy is a twirp no doubt but he is not as notorious as people are making it look.
The fact that he and Lance have man crush on each other like no other is really funny.

Domestic teams like Type1(non profit) and BMC and it affiliation w DKMS are hardly ever even mentioned as possible scandals. It is like Lance has the special sauce for scandal and non-profits. Some research into co-mingled cycle funds in the US may have some surprises for you. Almost everybody is non profit for starters(either (k)(c)(3)). So when you are at this weekends cyclocross and they have beer you should probably wonder who really bought it, or if it's taxed correctly

 

[Velodude]

Fatandfast:

You are sycophantly shooting from the hip. You do not have a clue about any of these issues.

 

[shawnrohrbach]

Fatandfast:

You are sycophantly shooting from the hip. You do not have a clue about any of these issues.

+1 Al Capone never signed his own tax forms and look where that got him; the only way the feds could take him down was on tax evasion no matter who signed the forms.

 

[MarkvW]

First off co-mingling money is legal. Tax evasion is not legal but given the fact that I am sure Armstrong probably didn't even use his own hand to sign any tax return it's going to be a stretch to show that he did something worthy of jail.
If he did receive a service for money from Ferrari or his son, again it is so far legal. Smart, no way. There appears to be this big cloud of nothing over the Doctors head. Scumbg, for sure, non grata in the Italian cycling fed..absolutely. Be real if he avoids that few 100 people associated w the Italian fed he shouldn't have too much trouble. His face on the most wanted poster is only pinned up there and w knowledgeable cycling fans.
Regular people can't pick him out if he were next to them at the market. The big American thing Ferrari has going for him is that he was absolved of wrong by everybody but the Italian fed, he is innocent. People are saying ghost and shell, but starting a company in Switzerland is legal. The fact that he continued possibly to dabble in helping Italian bike racers again is for a court to decide. The guy is a twirp no doubt but he is not as notorious as people are making it look.
The fact that he and Lance have man crush on each other like no other is really funny.

Domestic teams like Type1(non profit) and BMC and it affiliation w DKMS are hardly ever even mentioned as possible scandals. It is like Lance has the special sauce for scandal and non-profits. Some research into co-mingled cycle funds in the US may have some surprises for you. Almost everybody is non profit for starters(either (k)(c)(3)). So when you are at this weekends cyclocross and they have beer you should probably wonder who really bought it, or if it's taxed correctly

Ferrari could not do what he did without fraud. From reports, it looks like he got his doping products from pharmacists (not dope dealers). That means that there should be a paper trail--a legitimate paper trail--for each cc/mg of doping product he got from each pharmacist. If the pharmacists were legit, Ferrari has a lot of splaining to do. If the Pharmas weren't legit, then all it takes is one to turn on him, and Ferrari is dangling in the wind. Ferrari must be nervous now.

Ferrari has been caught once, and has beaten the rap. He apparently keeps "coaching." You can fool the cops only so much before you get caught. He's tempting fate, big time.

Ferrari could buy a lot of Italian indulgence if he gives up his clients. . . .

 

[Race Radio]

Ferrari could not do what he did without fraud. From reports, it looks like he got his doping products from pharmacists (not dope dealers).

Wrong. And that is a large part of his problem