A man wins 16.2 million in the lucky lottery and gets into debt a year later

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A man wins 16.2 million in the lucky lottery and gets into debt a year later

Winning the lottery is a dream come true for many people. Well, getting an influx of money just by buying a casual ticket can end up making you a millionaire; this is a dream for anyone. However, for a man in the US, this turn of events ended up leaving him $1 million in debt even after winning a prize of over $16 million.

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A lottery winner who won 16.2 million gets into debt a year later

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 to the Pennsylvania lottery game.

William Post III, Winner of the Pennsylvania LotteryTwitter

Amazingly, within a year of winning the big lottery, Post was $1 million in debt (more than Rs 8 crore). 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 received his first payment, Post obtained a liquor license, a restaurant for rent in Florida for his two brothers, and a used car lot along with a fleet of vehicles for another of his brothers. According to reports, the man on top still didn’t stop and even bought a twin-engine plane despite not having any clue or license to fly a plane.

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His frivolous spending wasn’t Post’s only problem, however.

The landlady and the man’s affair sued him for a third of his jackpot

Lottery winner gets multi-million dollar prizeUnsplash

One of Post’s brothers tried to hire a hit man to kill the man and his wife. Because of this horrible detail, Post’s landlady, Ann Karpik, who was also his on-and-off romance, tried to sue him for a third of his fortune in the lottery.

After winning the suit, Post told reporters that he only had $2.46 left in his bank account. Post later recounted the incident, saying, “I wish it had never happened. It was a nightmare.”

He added: “I was much happier when I was broke.” In an interview with The Washington Post, the man said: “Everyone dreams of making money, but no one notices the nightmares that arise 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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Source: condotel.edu.vn

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