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Old 01-13-2007, 12:15 AM   #1
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:stoned Man wins $315 MILLION powerball 4 yrs ago , is broke now

Holy crap that gotta be the WORST management of money ever..

http://news.yahoo.com/s/ap/20070112/...inner_problems
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Old 01-13-2007, 12:19 AM   #2
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sucks to be him
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Old 01-13-2007, 12:23 AM   #3
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people who win that kind of $....i.e. 113mil should just move to mexico & live cheap...like a fucking real KING, & keep their $ in switzerland & other european countries

but their families always eat them alive
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Old 01-13-2007, 12:26 AM   #4
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Old 01-13-2007, 12:47 AM   #5
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or could be some creative accountants shifting the cash around , the guy is getting sued left right and center , shifting the cash around is something that i would do
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Old 01-13-2007, 12:50 AM   #6
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"Since then, he has faced his granddaughter's death by drug overdose; he has been sued for bouncing checks at Atlantic City, N.J., casinos; he has been ordered to undergo rehab after being arrested on drunken driving charges; his vehicles and business have been burglarized; and he has been sued by the father of an 18-year-old boy, a friend of his granddaughter's, who was found dead in Whittaker's house."

He doesn't sound the brightest. People that earn their money tend to protect it a lot better.
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Old 01-13-2007, 12:54 AM   #7
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drugs. most likely coke.
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Old 01-13-2007, 12:55 AM   #8
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Give the poor fucker a break, after taxes it was only 113 million, jeeze.
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Old 01-13-2007, 12:58 AM   #9
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drugs. most likely coke.
lol 100 mill of coke.. you wouldnt have a nose left to do anymore coke..

i seem to recall him having a few run in's at various casino's , sounds like a hardcore gambler..
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Old 01-13-2007, 01:01 AM   #10
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hahahaha. fucking tool.
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Old 01-13-2007, 01:21 AM   #11
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Should be a post about him here on GFY. I think he was already a millionaire with a construction business, before the lottery winnings. His wife wanted to make a pilgrimage to Israel or something.
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Old 01-13-2007, 01:21 AM   #12
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I saw this story on the Discovery channel months back.
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Old 01-13-2007, 01:31 AM   #13
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damn, what a fuck.
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Old 01-13-2007, 01:37 AM   #14
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Didn't this tool also get robbed in the parking lot of a strip club? He had several hundred thousand dollars in a duffle bag in his car.
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Old 01-13-2007, 01:44 AM   #15
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sucks to be him
yeah... not good i guess.
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Old 01-13-2007, 01:50 AM   #16
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Didn't this tool also get robbed in the parking lot of a strip club? He had several hundred thousand dollars in a duffle bag in his car.
What the fuck? Jesus christ he deserves to be penniless, carrying that much money in your car... man what a god damn retard.
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Old 01-13-2007, 01:52 AM   #17
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there are a lot of millionares like that from winning the lottery
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Old 01-13-2007, 02:29 AM   #18
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what a retard
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Old 01-13-2007, 08:27 AM   #19
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there are a lot of millionares like that from winning the lottery
i dunno this one has to be a record...

4 years , over a 100 mill.

Thats damn close to 50 thousand per day.
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Old 01-13-2007, 08:51 AM   #20
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lol 100 mill of coke.. you wouldnt have a nose left to do anymore coke..

i seem to recall him having a few run in's at various casino's , sounds like a hardcore gambler..
pure coke doesnt take your nose out. if he was that rich he could afford pure coke.
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Old 01-13-2007, 08:52 AM   #21
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he should be slowly tortured.
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Old 01-13-2007, 08:54 AM   #22
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This guy sounds like a good old fashioned DRUNK. Too bad no one helped him when he still had his lute.
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Old 01-13-2007, 09:12 AM   #23
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This guy sounds like a good old fashioned DRUNK. Too bad no one helped him when he still had his lute.
He played the lute?

In case he's reading: yes, it's okay to kill yourself now.
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Old 01-13-2007, 09:12 AM   #24
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pure coke doesnt take your nose out. if he was that rich he could afford pure coke.
nobody gets pure coke.. even the dealers themselves.. theres a book out about one of the biggest cocaine kingpins around and thats what happened to his nose.. and he had alot more than 100 million dollars.. and access to the most pure coke.


either way as i pointed out above, he burned through 50k a day.. unless he was buying it at super inflated prices it would be impossible for him to spend that much on coke(and be alive)

( but then again from the sounds of it he had a bunsh of "friends" helping him spend his money ( i.e. snort his coke ) )
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Old 01-13-2007, 09:15 AM   #25
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wow what a story :\

sucks to be him
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Old 01-13-2007, 10:02 AM   #26
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That dude is nuts. Me I would buy up 1000 acres of land. High fence around the whole area. Security to the max. 80% in swiss banks. My own airstrip on my property. Food stocks to last 5 to 10 years. It would be the stickyfingerz compound. How can someone go broke like that shhesh. Lol
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Old 01-13-2007, 10:04 AM   #27
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Of course he is broke.

He didn't learn to earn.

I am surprised it lasted him as long as it did.
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Old 01-13-2007, 10:04 AM   #28
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what a stupid douche
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Old 01-13-2007, 10:06 AM   #29
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315 mil doesn't go as far as it used too.
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Old 01-13-2007, 10:06 AM   #30
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damn that's gotta suck
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Old 01-13-2007, 10:09 AM   #31
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jesus fucking christe,lol
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Old 01-13-2007, 10:12 AM   #32
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if anyone was good at managing $ they wouldnt be spending $ on lottery tickets in the first place.
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Old 01-13-2007, 10:26 AM   #33
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HOLY SHIT! He won 335 million? But only got 113 million after tax?? America sucks.
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Old 01-13-2007, 10:35 AM   #34
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Give the poor fucker a break, after taxes it was only 113 million, jeeze.
even still, spend 2 million per year will last over 50 years. stupid people do stupid things though i guess.
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Old 01-13-2007, 10:39 AM   #35
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HOLY SHIT! He won 335 million? But only got 113 million after tax?? America sucks.
Yeah. America sucks. Our GDP, technology and all.

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Old 01-13-2007, 10:40 AM   #36
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HOLY SHIT! He won 335 million? But only got 113 million after tax?? America sucks.
In other countries like Iraq and China, the government would've taken 100% of his money and given him 15 lashings.
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Old 01-13-2007, 10:45 AM   #37
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In other countries like Iraq and China, the government would've taken 100% of his money and given him 15 lashings.
if he was in canada he would of been able to keep the whole thing.
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Old 01-13-2007, 10:51 AM   #38
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nobody gets pure coke.. even the dealers themselves.. theres a book out about one of the biggest cocaine kingpins around and thats what happened to his nose.. and he had alot more than 100 million dollars.. and access to the most pure coke.


either way as i pointed out above, he burned through 50k a day.. unless he was buying it at super inflated prices it would be impossible for him to spend that much on coke(and be alive)

( but then again from the sounds of it he had a bunsh of "friends" helping him spend his money ( i.e. snort his coke ) )
haha yep. i actully posted that in the hopes of u asking what in the "mixed" coke actully makes ur nose bleed? for once i want to give u some knowledge
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Old 01-13-2007, 11:01 AM   #39
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dam that sucks
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Old 01-13-2007, 11:03 AM   #40
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haha yep. i actully posted that in the hopes of u asking what in the "mixed" coke actully makes ur nose bleed? for once i want to give u some knowledge
well lets hear it.
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Old 01-13-2007, 11:11 AM   #41
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The family of a kid I went to school with won 14 million in the lotto, blew it all in like 2 years and lost their house, and then they won 18 million again 2 years after they lost their house. They were broke and living in an appartment again within 4 years.
How the fuck do you win twice to start with, but then to fuck it up both times.

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even still, spend 2 million per year will last over 50 years. stupid people do stupid things though i guess.
... if he put it in an account that made him 0% interest.

If I put 100 million into my normal checking account I would get more then 300k a year in interest.
Put that into my ING savings account and it would be more then 550k a year in just interest.

But then take into account with that much coin you can negotiate for a real interest rate.

I'd hire a great accountant, and a great invester, but leave 20million in just a normal bank account as a fall back.
Even being 24 I could retire right now with 20million, and live a pretty good life.
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Old 01-13-2007, 11:21 AM   #42
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HOLY SHIT! He won 335 million? But only got 113 million after tax?? America sucks.
No to get payout of 335 million before taxes would have been paid over several years. He took the instant payout which is normally about half of the full amount. So it was likely somewhere around 160 million before taxes.
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Old 01-13-2007, 11:24 AM   #43
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If I put 100 million into my normal checking account I would get more then 300k a year in interest.
Put that into my ING savings account and it would be more then 550k a year in just interest.

But then take into account with that much coin you can negotiate for a real interest rate.

I'd hire a great accountant, and a great invester, but leave 20million in just a normal bank account as a fall back.
Even being 24 I could retire right now with 20million, and live a pretty good life.
Actually if you put 100 million into a ING savings account you would have 4.5 Million a year in interest
http://home.ingdirect.com/

4.5% interest no risk account

DH
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Old 01-13-2007, 11:32 AM   #44
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I would get that i would simply reinvest into adult biz and double money.Very simple.
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Old 01-13-2007, 11:34 AM   #45
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In the latest lawsuit, Whittaker told French's lawyer, John Barrett, that "a team of crooks" cashed checks in September at 12 City National Bank branches and "got all my money," according to the motion Barrett filed Wednesday in state court.



interesting.....
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Old 01-13-2007, 11:51 AM   #46
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Actually if you put 100 million into a ING savings account you would have 4.5 Million a year in interest
http://home.ingdirect.com/

4.5% interest no risk account

DH
unless the bank goes bust! its happend in the past!
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Old 01-13-2007, 11:52 AM   #47
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well lets hear it.
nah its way too good to say in a post, it needs its own thread probably the only useful business thing i know about drugs
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Old 01-13-2007, 12:08 PM   #48
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Actually if you put 100 million into a ING savings account you would have 4.5 Million a year in interest
http://home.ingdirect.com/

4.5% interest no risk account

DH
Damn, my math skills suck today, lol.


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unless the bank goes bust! its happend in the past!
ING is FUCKING HUGE!!
If they went under the economy would crash.
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Old 01-13-2007, 12:16 PM   #49
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haha yep. i actully posted that in the hopes of u asking what in the "mixed" coke actully makes ur nose bleed? for once i want to give u some knowledge
i wouldnt really call it knowledge more like bizarre factoids.. interesting as it may be..

Theres lots of things used to make coke , ether/gas/lime/alcohol/ that im sure arent good to be in your nose. even the natives that chew coca leaves get deteriorization of the gums/cheeks so im sure pure coke is bad enough, but once it gets to street level theres thousand of things and combinations of things that could effect you..

Point being, yes if you did 50k per day of pure coke, you would most likely no longer have a nose although at that point your nose is prob the least of your concerns
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Old 01-13-2007, 01:38 PM   #50
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seems to happen with a lot of the winners.
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