ON WEDNESDAY,, my wife and I drove up to Leadville, Colorado, as it was too cold to bicycle, and it was supposed to be a scenic drive.
I had another, secret, motive. I wanted to check out “Floyd’s of Leadville”, a cannabis dispensary owned by former bicycle racing champion Floyd Landis, who blew the whistle on Lance Armstrong.
I knew a bit about the case, as I spent over 14 years talking and writing about False Claims Act cases filed under seal. Neither the lawyer nor the whistleblower can talk about cases filed under seal, but I had no such restrictions so long as I did not name or identify the lawyer or whistleblower, which I never did (often because I did not know either of their names).
A great deal of information on cases filed under seal can be gleaned from a close reading of SEC 10-K and 10-Q filings, and pairing it with an encyclopedic knowledge of the mechanics of past fraud cases, which I definitely have.
Anyway, a reporter called me up from either Newsweek or Time (I cannot remember which) in very early 2003, and she had clearly been told I was *very* whistleblower-friendly, which I am. That said, I hated the Floyd Landis case for reasons I will explain, and worked hard to not get quoted.
Landis was suing fellow-cyclist Lance Armstrong under the theory that Armstrong had defrauded the US Postal Service, which had sponsored the Lance Armstrong Tour de France team with American taxpayer money.
The theory of the case swung on the claim that the US Postal Service would not have sponsored the team if they knew Armstrong was blood-doping and lying about it.
It’s a plausible claim, but it had a major defect early on; the US Postal Service had not initially joined Landis’ whistleblower claim, and neither had their taxpayer-funded law firm, the US Department of Justice.
Under the False Claims Act, a whistleblower can still file a case “in the name of the king,” and never mind if America had no kings.
As a general rule, however, if the fraud victim (in this case the USPS) says it does not feel it was ripped off, a False Claims Act dies for lack of an obvious victim and government-backed lawyer for said victim.
There was another problem with the Landis case — the entire USPS underwriting of Armstrong’s team made no sense. Ostensibly, it was a promotion or advertising vehicle for the US Postal Service, but why? The USPS has a monopoly on letter-box mail delivery, and it’s customers were not in France or Europe.
The whole thing was stupid on a stick.
Then there was the little matter of Landis’ character and background. He was a self admitted liar, cheat, and thief who had, by his own admission, blood doped for years and lied about it. He only came clean after being caught. In addition, Landis engaged in wire fraud in excess of $478,000, which he had to pay back in order to avoid jail time.
So, bottom line, I thought the Floyd Landis case was built on a terrible set of facts, and for the first three years of the case, so did USPS and the DOJ. Then, in April of 2013, DOJ and the USPS changed their mind, and decided the $31 million in single damages asserted by Landis was credible, and under the False Claims Act, DOJ sought treble damages of approximately $100 (treble damages plus litigation costs).
In 2018, Lance Armstrong inexplicably cracked, after 12 years of lying, He now and admitted he had blood-doped for the Tour de France. The causal factor for this unexpected confession was undoubtedly the massive and overwhelming wave of evidence produced by a federal and United States Anti-Doping Agency (USADA) investigation that left him stripped of his 7 Tour de France titles. Armstrong’s fiancee, Sheryl Crowe, had been promised immunity to testify about what she had seen, and several other blood-doping eye-witnesses testified that they too had personally seen him blood dope. At trial, a long parade of donors and supporters would have been forced to testify under threat of perjury.
In the end, Lance Armstrong and DOJ settled the Landis-filed whistleblower case for $5 million in 2018, plus legal costs. Of this sum, Landis and his legal team split a whistleblower share of $1.1 million and Landis’ legal team was awarded an additional $1.65 million to cover legal fees.
Armstrong had already lost an earlier case he had filed against SCA Promotions, who had refused to pay a $5 million bonus that Landis claimed Tailwind Sports (Armstrong's team management company) owed him. SCA Promotions was the bonus- insurance company hired by Tailwinds Sports, but they suspected Armstrong of blood doping and would not pay Armstrong’s claim. In the end, Armstrong lost at arbitration, and had to pay SCA Promotions $10 million in compensation in 2015.
All this to say that earlier this week I was eager to visit “Floyd’s of Leadville,” which was supposed to be the highest elevation marijuana dispensary in the US.
Not only was I interested in the Landis case, but I had written a considerable amount on marijuana and other (then illegal) drug markets (see end notes)
Surely “Floyd’s of Leadville” had a cool T-shirt I could buy?
Plus, I’ve never been in a legal marijuana dispensary.
And maybe I could meet Floyd?
Alas, it was not to be.
My mapping software, which tried to show me where “Floyd’s of Leadville” was supposed to be located, failed me.
No Floyd’s, and with a serious snow storm coming in and lowering road visibility and traction, the wife and I decided that caution was the better part of valor, and we skedaddled back down the road to Buena Vista in a near white-out.
But still…. Floyd’s called, and I am nothing if not determined
And so, after climbing to over 10,000 feet (by car) to check out the jaw-dropping beauty of Independence Pass, we circled back to Leadville a second time for a little coffee and exploration in clear weather.
It was in a curio and thrift shop that I saw the plastic sign heralding “Floyd’s of Leadville” that tops this post.
I asked about it.
Apparently Floyd’s burned up in December of 2025, with extensive damage as fire ripped through gaps and hollows between the walls.
The origins of the fire remain under investigation.
It started at 8 am, burned for 4 hours, and there were no injuries.
A quick legal check tells me Floyd’s of Leadville has been in the midst of very active and ongoing litigation, apparently involving a 2022 attempt at a hostile takeover by its financial broker and investors, doing business as Alexander Capital LP, and Redemption Holdings, Inc.
Oof!
Muchos problemas, Floyd!¡
What’s any of this have to do with terriers and sneaky predators?
Not much, but perhaps a little, as I noted in this early “explainer” video about the fox’s interest in the hen house.
Check it out >> https://www.corporatecrimereporter.com/news/200/taf-releases-false-claims-act-video-fox-hates-anything-keeps-hen-house/
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