Mike Lindell was ordered to pay an expert $5 million for proving his election-fraud claims were wrong. Lindell wouldn't say if he has the money to pay up.

• Mike Lindell has been ordered to fork over $5 million to a cybersecurity expert who proved his election-fraud claims were wrong.
• An arbitration panel ruled on Wednesday that Lindell's firm must pay the lump sum to Robert Zeidman.
• "It was a horrible decision. This will end up in court!" Lindell told Insider on Thursday. 

Mike Lindell has been ordered to fork over $5 million to a cybersecurity expert who debunked data from the MyPillow CEO in a "Prove Mike Wrong Challenge" related to the 2020 US election. 

An arbitration panel ruled on Wednesday that Lindell's firm, Lindell Management, must pay the lump sum out to Robert Zeidman for disproving the far-right conspiracy theorist's baseless election fraud claims. 

However, when reached for comment by Insider on Thursday, Lindell refused to say whether he had the cash to pay Zeidman and added that he will "100%" fight the ruling. 

"It was a horrible decision. This will end up in court!" Lindell told Insider by phone while playing golf with his grandchildren.

Lindell said that Zeidman — who has more than 45 years of experience in software development — is "not going to get some corruption-winning $5 million" out of him. 

Zeidman's attorney, Brian Glasser, told Insider that the arbitration panel's decision was "detailed and well-reasoned."

"Three judges unanimously decided that we proved to 100% certainty that Mr. Lindell's data was not related to the 2020 election," Glasser explained. 

"Mr. Lindell had his day in the court of his choosing and lost. This will never be reversed on appeal," said Glasser. 

In August 2021, Lindell held a so-called "Cyber Symposium" in South Dakota.

"The purpose of the symposium was to provide the data he had to prove China's interference in the November 2020 election," the arbitration panel wrote in its 23-page decision. 

As part of the event, Lindell announced a contest called the "Prove Mike Wrong Challenge" in which anyone who could prove Lindell's data was not from the 2020 election would be rewarded $5 million. 

Zeidman initiated the arbitration against Lindell's firm, claiming he won the contest prize — and the panel agreed. 

"Based on the foregoing analysis, Mr. Zeidman performed under the contract. He proved the data Lindell LLC provided, and represented reflected information from the November 2020 election, unequivocally did not reflect November 2020 election data," the panel wrote in its ruling. "Failure to pay Mr. Zeidman the $5 million prized was a breach of the contract, entitling him to recover."

It's not clear whether Lindell would even be able to make the payment. 

Last month, Lindell told Insider he had to borrow $10 million in 2022 just to keep his pillow company afloat and had personally borrowed money to stay liquid. 

"I sold a building I had in Savage, in Minnesota, in October," Lindell said at the time. "And I had to borrow 2 million too. I've spent it all on fighting for this country."

When asked by Insider on Thursday whether he had the cash to pay Zeidman the $5 million, he called it a "stupid question."

"I won't stop spending money until we get these [voting] machines gone," he said.  "There's my answer."