Horror stories across the country
Information about Horror stories across the country
Money doesn’t always buy happiness. In fact some lottery winners have experienced bankruptcy, divorce, prison time and have even been murdered.
Experts say if you win and don’t contact a reputable tax professional and a reputable investment adviser, you could land yourself in big financial trouble. If your first step is to tell family and friends you won, it could lead to close people in your life demanding money. Lottery winners who aren’t equipped with how to wisely save their millions often blow through their cash.
Although it may seem impossible to blow a billion or millions of dollars, below are some of the worst U.S. lottery winner horror stories.
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1. William Bud Post. Post won Pennsylvania’s $16.2 million jackpot in 1988, the Beaver County Times reported. This was the start of a series of unfortunate events for Post. His ex-girlfriend sued him for a share of the winnings and won, and his brother hired a hitman in an effort to inherit part of the cash. Other relatives spent months demanding money. Within a month of winning, Post filed for bankruptcy and had $1 million in debt.
2. Janite Lee. The St. Louis Post Dispatch reported Janite Lee, an immigrant from South Korea, worked in a wig shop before she won $18 million in the Illinois Lottery in 1993. Lee was set to receive an annual payout of $620,000 and took the opportunity to buy a million-dollar home for her family. But she later sold her rights to her annual checks for a lump-sum amount. Ten years later at 60, Lee filed for bankruptcy and was left with $2.5 million in debt.
3. Abraham Shakespeare. In 2006, Shakespeare won $30 million in a Florida lottery, and three years later he was murdered. The 47-year-old was shot twice in the chest by DeeDee Moore, who befriended Shakespeare after his lottery win, according to ABC News. Moore was found guilty of first-degree murder in 2012.
4. Denise Rossi. In 1997, Rossi won $1.3 million in the California lottery and immediately filed for divorce from her husband, People reported. Two years later, Rossi’s husband discovered she won the lottery and took her to court. He sued Rossi for not disclosing her winnings in the divorce, and the judge awarded him every cent.
5. Jack Whittaker. Before winning $315 million in West Virginia in 2002, Whittaker was already a millionaire, according to TIME. Just four years later, the then-construction company president claimed he went broke. Tragedies swarmed his life. His granddaughter and daughter died soon after from drug overdoses. Then Whittaker was robbed of $545,000 while sitting in his car at a strip club.
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