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Lance Armstrong's cancer foundation could lose money

August 3, 2010 |  1:52 pm

Lance_240 The federal investigation into doping allegations against Lance Armstrong could hurt more than just his reputation.

Philanthropy experts predict that Armstrong's cancer foundation, which has raised over $325 million, could lose donations if his name is embroiled in scandal. 

The foundation, Livestrong, which was founded in 1997 after Armstrong survived cancer, is one of the top 10 groups funding cancer research in the United States.

Federal investigators have been investigating Armstrong since his former teammate, Floyd Landis, admitted to using performance-enhancing drugs and accused Armstrong of doing the same. Armstrong has vehemently denied Landis' allegations.

-- Melissa Rohlin

Photo: Lance Armstrong. Credit: Christophe Ena / Associated Press.