Man Wins 16.2 Million In Lucky Lottery Pull, Goes Into Debt A Year Later
A lottery winner shares his horrifying ordeal about how his multi-million dollar lottery win turned into debt within just a year.
A lottery win is a dream come true for many people. Well, getting an influx of money just by buying a chance ticket can end up making you a millionaire; this is a dream for anybody. However, for one man in the US, this turn of events ended up leaving him a million dollars in debt even after winning a prize of over $16 million.
A Lottery Winner Who Won 16.2 Million Goes Into Debt A Year Later
Back in 1988, Will Post III won a prize of $16.2 million (which would be over Rs 100 crore today) but ended up drowning it down the drain. He won the prize when Post bought a ticket for the Pennsylvania lottery game.
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Surprisingly, within a year of winning the big lottery, Post was $1 million (over Rs 8 crore) in debt. According to The Washington Post, at the time of winning the lottery, Post opted to receive his winning prize in annual payments of $497,953.47.
Once he got his first payment, Post got a liquor licence, a restaurant on lease in Florida for his two siblings, and a used car lot alongside a fleet of vehicles for another one of his siblings. Per reports, the man on a high still did not stop and even purchased a twin-engine plane despite not having any clue or licence to fly a plane.
However, his frivolous spending was not Post¡¯s only problem.
The Man's Landlady And Affair Sued Him For A Third Of His Jackpot
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One of Post¡¯s brothers actually attempted to hire a hitman to kill the man and his wife. Over this horrifying detail, Post¡¯s landlady, who was also his on-and-off romance, Ann Karpik, tried to sue him for a third of his lottery fortune.
After he won the lawsuit, Post told reporters that he had only $2.46 left in his bank account. Post later recounted the incident and said, "I wish it never happened. It was totally a nightmare."
He added, "I was much happier when I was broke." In an interview with The Washington Post, the man said, "Everybody dreams of winning money, but nobody realises the nightmares that come out of the woodwork or the problems." He later died in 2006 of respiratory failure.
Tell us what you think about Post¡¯s journey in the comments below.
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