Lance Armstrong has gone from one of the greatest American athletes to one of the biggest disappointments.

Armstrong won seven Tour de France cycling races, which is one of the most grueling races in the world. But he lied and cheated to win.

During all these years Lance Armstrong denied allegations that he cheated by taking PEDS. Well, finally all his accusers nailed him for his lies. Lance Armstrong is living proof that you can go from an American hero to one of the biggest chumps in the world ...ever!

Armstrong made millions through his wins, and also raised millions for cancer research. With the help and support of Nike, he formed his own foundation, Livestrong. Yeah, he raised millions but he duped people for those contributions by cheating. This is a very twisted story of lying and deception. But Armstrong has been exposed for the fraud that he is.

He will be sued by many companies that paid him millions. These companies want their money back. He lied under oath in 2005, saying he never used PEDS. An arbitration panel in Texas yesterday ruled he must give back $10 million in penalties to a promotion firm. It's believed to be the largest sanction against an individual in American judicial history.

This is just the beginning of Lance Armstrong's monetary woes. You can't profit from perjury.