September 3, 2013 / 8:46 PM / 4 years ago

Oracle hit with major penalties in America's Cup cheating scandal

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Oracle Corporation co-founder and CEO Larry Ellison waves to a passing boat prior to the first race of the Louis Vuitton Cup challenger series yacht race in San Francisco, California August 17, 2013.Peter Andrews

San Francisco (Reuters) - Software mogul Larry Ellison's Oracle Team USA suffered a major setback in its effort to retain the America's Cup when an international jury on Tuesday docked the team two points and kicked three sailors and one shore crew member out of the event.

The America's Cup final, which begins Saturday and pits Oracle against Emirates Team New Zealand, is a best-of-17 series, and Oracle will now be denied points for its first two victories. The penalties came after Oracle boats racing in a preliminary event were found to have illegally added weight on board.

Reporting By Jonathan Weber; Editing by Alden Bentley

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