Winning the Lottery

Winning the Lottery Stories

Winning the lottery can propel winners abruptly into the world of the wealthy. For some sudden riches are a blessing while for others it has been a curse. Many winners are from lower socioeconomic groups and are not used to managing large amounts of money. Many lottery winners find themselves inundated with friends and long lost relatives with their hands out. To avoid this scenario lottery and financial experts advise winners to keep their good fortune a secret until they have had a chance to consult with a tax and financial advisor. In some states this is not an option and lottery winners are forced to reveal their names. Here are a few examples of unlucky lottery winners.

One of the more well known stories is the case of Abraham Shakespeare of Florida. In 2006 Shakespeare won $30 million playing the Florida lottery. Shakespeare took a lump sum payout of $17 million. Shakespeare purchased a home for $1 million and his only other major purchases were a Nissan Altima and a Rolex. In November of 20-0-9 Shakespeare’s family reported him missing. At the time they believed he had taken his money and was living somewhere in the Caribbean. One of Shakespeare’s fair weather friends was Dorice Donegan "Dee-Dee" Moore. They went into business together and Moore withdrew $1 million from the business account and also purchased a Hummer and a Corvette. She later tried to claim that the money and card were a ‘gift’ from Shakespeare.

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