Will Thomas Weisel, Who Owns Lance Armstrong\'s U.S. Postal Team, Get Charged with Fraud?

by:Y&M Crafts     2019-08-09
Lance Armstrong\'s No. holds-
An interview with Oprah Winfrey was banned on Thursday, and he is expected to admit to using the show --
As his career in cycling enhances the role of drugs, the federal government\'s investigation of his financial position has expanded to focus on the people who fund his champion team: legendary San Francisco financier Thomas
Documents opened on December.
In a federal court in Washington, government investigators investigating Mr. Armstrong\'s possible fraud also summoned Mr. Weisel, founder of Montgomery Securities investment bank.
The chairman of the board of directors.
In Silicon Valley, 71-year-old Weisel made public such as Amgen and Yahoo! .
In sports, however, he is known as the founder, owner and chairman of San Francisco
Downwind Sports, a US-based holding company. S.
From 1999 to 2005, Armstrong led the Postal cycling team to seven consecutive victories in the Tour de France.
From 1996 to 2004, the United StatesS.
The Postal Service paid $40 million in federal funding to sponsor the team.
The team management company, which employs and pays the rider\'s salary, promised in the contract not to tolerate doping.
The major fraud investigation department at the office of the Inspector General of the General Post Office is trying to determine whether Amsterdam and others have cheated the government by violating the regulations.
Last year, federal prosecutors wrote in a document that doping provisions.
Weisel declined to comment on the matter.
He has not published a public report on doping in the team.
In addition to the investigation by the Postal Service, the target of the other two legal cases since October has been downwind. S. Anti-Doping Agency (USADA)
Sent a devastating 1,000-
Describe Armstrong as a page report of a serial liar.
These cases also reveal whether Armstrong\'s use of prohibited drugs constitutes financial fraud --
If so, is it possible to hold the financial responsibility of the team owner accountable.
In Texas, an insurance company wants to recover $11 million paid to downwind to pay millions of dollars.
Each time Armstrong wins a contract for the Tour de France, the dollar performance bonus is triggered.
\"Downwind is within our line of sight, because Armstrong\'s doping activity is hidden for us,\" said Dallas\'s Bob Haman . \"
SCA Promotions from Asports insurance.
\"More importantly, he is no longer the champion of the Tour de France.
\"The potential for greater impact is a whistle --
The record shows that the former bicycle star filed a lawsuit against downwind and admitted doper Floyd Landis.
In an affidavit, Landis told
S. doping agency introduced him to blood doping last year. S.
Postal Service team officials \"act on behalf of downwind and its responsible persons.
Landice\'s lawsuit is intended to recover the $40 million paid by Postal Service to downwind for moneysorship.
If he succeeds, Landis and the government will share the award.
Under the terms of the federal False Claims Act, the complaint is sealed. (
CBS News and The New York Times reported that Armstrong and his agent Bill Stapleton may also seek to repay millions of dollars to the postal service, \"as part of their cooperation in this case”)U. S.
Court records show that, at the same time, lawyers from the Justice Department are weighing whether the government should join Landis\'s lawsuit.
Under the law, companies that submit false claims to the government can be fined three times
Up to $0. 12 billion in downwind.
Weisel, born in Minnesota and a speed skating champion, almost missed $1960. S. Olympic team.
He earned a bachelor\'s degree at Stanford University, an MBA at Harvard University, and then started his banking career in San Francisco.
He has a high reputation as a Category a person with a sales mind and a strong competitive tendency.
Weisel has looked for and hired some athletes, even some who have no experience in finance, who can help the company dominate the local company track and field competitions.
At the end of 1970, Weisel pushed out his partners at Robertson, Coleman, and Siebel & Weisel to take over as chief executive.
He renamed the company Montgomery Securities and backed the wealth of promising medical and technology companies.
At 1997, he cashed it through $1.
He helped coordinate the sale of £ 3 billion to state-owned banks and later hired key executives for the newly formed Thomas Weisel partner.
He sold the company to Stifel Financial in 2010 and became a partner. chair.
For most of his career, Weisel continued to play in sports.
At the age of 192,41, he ranked third in the Age Department of the United StatesS.
National Ski Championships
He started riding a bicycle the next year.
Details of his training programme in his biography, including weekly practice classes flying from home in Marin County to Southern CaliforniaU. S.
Olympic bike coach Eddie.
In the 1989 season, Weisel in his 45-and-
Department over age
By that time, he had set his sights on the Tour de France.
Federal whistle-
The blower suit is accused of downwind, so the issue of who controls downwind is crucial.
In 1998, professional cycling team Weisel formed the team for the first time.
Records show that Subaru follows the sponsors, but downwind is the holding company of the team.
In the earliest years of the team\'s establishment, \"Lance has no ownership of the post-wind, which has been chaired by Thom Weisel for many years, \"According to the memo made by a lawyer at Dallas insurance company SCA as part of the legal proceedings.
By 2004, however, Armstrong had scored 11 points.
His agent, Stapleton, said in his 5% testimony in the SCA lawsuit that the company had a 2005 stake.
Six years later, however, after Landice told the federal investigators Postal Service team that doping was widespread, Armstrong told the New York Times, \"the most obvious misconception is that I am the team\'s boss.
This is totally untrue. No ownership. None at all.
In 1990, Weisel hired Armstrong for the first time, but after Armstrong withdrew from the race for the top American team, Motorola, weisel signed another promising star, Taylor Hamilton, a future Olympic gold medalist who later admitted to using the blood.
Take doping, red blood cell-promoting factors and other prohibited drugs while riding with the Postal Service team.
In his recently published book, Secret race, Hamilton recalled that the year\'s Weissel was \"almost another coach \"--
Drive hard, strong and firm.
\"For him, life is a game, and it\'s won by the hardest, most powerful, and able to do everything,\" Hamilton wrote about financiers . \".
Weisel has invested in downwind sports to hire top drivers from the United States. S. and Europe.
In 1996, downwind bank found a strong sponsor: the federal government.
But even after the cash injection, the team still loses as much as $1 million a year, downwind chief executive Mark goldski testified in an earlier financial dispute with SCA Insurance.
After that, downwind shook team management.
Gorski replaced Dr, a team doctor.
Spanish sports doctor Dr Prentice Steffen has spoken out against doping
Pedro Zelaya, according to the counter
Report of doping agency
Years later, the rider told the United StatesS. anti-
Celaya provided them with red blood cell-promoting factors, blood transfusion, and salt water injections to help them overcome doping officials on drug tests.
In 1997, Armstrong was knocked down by testosterone cancer. after the chemotherapy was reduced, there was an attractive opportunity for downwind.
Other teams don\'t want him.
Weisel proposed to bring him back to the Postal Service team of the rock band.
The base salary of the performance bonus.
According to the financier\'s biography, Armstrong received a $1 million prize in 1998.
Led by Armstrong, the team achieved unprecedented success, winning the first of seven Tour de France in 1999.
Over the next few years, Weisel often follows Armstrong in the team.
He meets with him, celebrates with him, and displays Armstrong\'s photos and yellow jerseys at his Montgomery Street office.
Hamilton wrote in his book that after a tour victory, Weisel rented a hearty victory dinner at the top floor of the Paris Othello Museum.
In cycling, Weisel won the race with as little chance as possible.
In 1999, Weisel\'s biography said, he developed a plan to control the American cycling campaign, the sport\'s governing body that selected Olympic teams and imposed doping sanctions.
2001, when Armstrong won in a row in the Tour de France, Weisel not only took control of the bike\'s strongest team, but also the United States that controlled the sportS. regulator.
Weisel is a like-minded person for Armstrong.
\"This is a person who likes to win at any time.
In the preface to capital instinct: the life of entrepreneurs, financiers and athletes, Armstrong wrote: \"Absolutely everything is a competition for him, the autobiography written by weisel and reporter Richard Brandt.
\"Everything is a deal for Thom.
Everything is a boxing match.
\"Weisel recruited friends from his financial community to buy shares in downwind.
Downwind fund investors did not get a return on investment, but bought a fantasy camp for bike enthusiasts to accompany cyclists during training, mingle with the riders at a party in wesselmarin County and gain exclusive access to the Armstrong team during the Tour de France cycling.
Investors are reported to include Richard Kassin Jr.
Chairman of a private company
JP Morgan Chase stock Department;
David \"Tiger\" Williams, founder of Williams trading company;
According to The Wall Street Journal, former CEO Ward Woods of Bessemer Securities.
Weisel also recruited rich friends to donate money to Weisel.
The American bicycle Development Foundation was established to support the American bicycle sport.
Top donors and investors call themselves champions clubs.
When Armstrong won his last Tour de France and retired in 2005, the team\'s game was over.
Two years later, the team, sponsored by the TV Discovery Channel, was disbanded.
USADA attributed the team\'s great success to system doping in its October report.
Armstrong has benefited from helping him to obtain \"a group of experts\" that promote red blood cell hormone and other blood drugs, human growth hormone, steroids and secret blood transfusion, and then cover up his medication, the agency said.
Eleven former players
Including Hamilton and Landis.
Admitted they took doping to help Armstrong win.
The so-called contributing factors mentioned in the report include team manager John Brunier;
Team doctor Celaya; and Dr.
Italian doctor Michel Ferrari is known for leading the cutting
Edge doping test
In the final years of his cycling career, Armstrong paid Ferrari $1 million. S. Anti-
The doping agency said in the report.
In exchange, Ferrari designed a doping scheme for the entire team, the report said.
Bruyneel and Celaya questioned the agency\'s findings.
Ferrari and Armstrong did not dispute the matter. they were banned from cycling for life.
According to published reports, Armstrong may have agreed to an interview with Winfrey, hoping to ease the terms of the ban, perhaps to participate in the triathlon.
How this strategy might work for Weisel
Personal or financial-
This is still an outstanding issue.
Weisel was not named in the public version of the doping agency\'s report.
Over the years, as investigators have focused their attention on Armstrong and his team, financiers have avoided commenting on the topic of drugs in sports.
When his name appeared in legal proceedings relating to Amsterdam and doping, he was portrayed as indifferent to doping, eager to transfer allegations that could hurt Amsterdam and his team.
Legal records involving tail winds depict a different scene.
In the documents prepared for the 2005 Arbitration case, SCA Insurance company earlier tried to recover $11 million, and the investigation report center found reports of three incidents, weisel allegedly encountered doping charges surrounding the Postal team in these incidents :-
In the 1996 team
Getting up, team doctor Steffen complained in a fax to Weisel that he lost his job because he refused to let the drug into the team.
He wrote: \"What can a Spanish doctor who is completely unknown to an organization provide that I cannot or will not provide ? \" He refers to his replacement, Ceyala.
\"Doping is a pretty obvious answer,\" he said . \"
He also warned that Johnny Weltz, the newly hired road manager, was a famous drug scammer. —
When Armstrong was on his way to victory in the first Tour de France in 1999, the team was angered by a report that said the bike star was positive for the banned substance sportholly test.
Team masseuse Emma O\'Reilly claims that she witnessed Weisel squeezing with Armstrong in her bike-riding massage room, \"feeling crazy about how to deal with the positive test.
O\'Reilly later told the counter.
Doping officials said the team received an expired prescription for steroid cream to explain Armstrong\'s positive test. —Retired U. S.
In 2001, cycling champion Greg Lemmond publicly criticized Armstrong for training with the famous doping guru Ferrari.
Lemmon said he soon received a threatening phone call from Wessel.
\"Lance you said is not good for you,\" Lemmon claimed Weisel told him.
In the end, every crisis has subsided.
Weisel did not return his job to Steffen, 16 years after his successor, Celaya, was accused of managing performance --Enhance the drug.
The masseur and team member told the counter that the bicycle officer received a prescription dating back to 1999.
They asked Armstrong to continue his first Tour de France.
After Armstrong denied in a public statement that Redmond was a jealous, unstable malicious content, the media and fans largely ignored the criticism of the former champion.
Armstrong was worshipped instead.
Weisel, who has been highly respected in the US financial sector, has joined him as the driving force for the rise of the US in a typical European movement.
The story was edited by Amy Pyle of the Center for Investigation reports and edited by Nikki Frick and Christine Lee of CIR.
Kki Frick and Christine Lee
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