Categories: CuriositiesLifestyle

20 big lottery winners whose money and luck ran out

From wigs to riches

In 1993, Janite Lee, a South Korean immigrant, was running a wig shop in St. Louis when she won $18 million in the Illinois Lottery.

Lee went on a donation spree, giving money to political candidates and the Democratic National Committee, and snapping up a seat next to President Bill Clinton at a 1997 fundraising luncheon, according to the St. Louis Post-Dispatch.

She also donated generously to Washington University, and its School of Law named a reading room after her.

But the annual, after-tax payments of $620,000 couldn’t match her spending.

When she filed for Chapter 7 bankruptcy protection in 2001, the extent of Lee’s debts became clear. She had only about $700 but owed $2.5 million, according to The Augusta Chronicle. And, she had lost nearly $350,000 gambling at casinos during one year.

Gambling financially is never a good idea. But with CD rates on the rise, they’re a low risk way to earn an almost 3 percent return on your investment.

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18

smartlivingtips

Recent Posts

Ways You’re Being Rude Online

These days, we all spend a lot of our lives online. We work online, socialize…

6 years ago

How Much Plastic Are You Consuming?

If you've read reports about plastics showing up in whales and other sea life you…

6 years ago

15 Etiquette Mistakes You Need to Stop Making by Age 40

We're all guilty of making an etiquette mistake from time to time, whether we accidentally…

6 years ago

Small Tweaks to Make Your Thanksgiving Foods Slightly Healthier

Thanksgiving is a special time of year for many Americans. It's the holiday where families…

6 years ago

How To Help Someone You Love Quit Smoking

The number of smokers goes down each year and that’s definitely a good thing. Smoking…

6 years ago

Washington Is the First US State to License Outdoor Preschools

Most toddlers don’t spend their days picking up sticks and chasing centipedes in the forest…

6 years ago