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Administrator
In 2001 he won a $27M lottery. In 2013 he died alone and penniless.
LOUISVILLE — Is there a lottery curse? Before you buy that Powerball ticket, remember the tragic story of one Kentuckian who won the jackpot.
David Lee Edwards, from Ashland, Ky., won $27 million in 2001. He lost it all by 2006.
The Courier-Journal spoke to Edwards right after his win, saying it was "a poor man's dream."
"I've made mistakes in my past, and that's been a long time ago. I've paid for those mistakes, and I went on with my life, and I straightened my life out, and I've been productive since then,'' Edwards said.
"I am what I am today, and I thank God for that. I can't go back and change my past, but I can do something positive with my future.''
But things didn't go well. After he won the jackpot, Edwards and his wife spent the earnings on a mansion, dozens of expensive cars and a jet. They spent until the money ran out and left them both living in a storage unit after five years, according to the Broward-Palm Beach New Times.
Edwards bought a $1.6 million house in a private tennis and golf community in Palm Beach Gardens, Fla., and spent another $600,000 on another home. He also bought a $1.9 million LearJet, three losing racehorses and two businesses worth $4.5 million.
He collected cars, including a $200,000 Lamborghini Diablo and at one point, the Daily Mail reported, he had $1 million in vehicles parked in front of his house.
In his first three months as a millionaire, he spent $3 million and after one year, he had spent $12 million, reported the New Times.
He had lost every bit by 2006.
Edwards and his wife contracted hepatitis from their needle drug use and both were arrested multiple times for possession of crack cocaine, pills and heroin, according to the New Times.
Edwards died "alone and penniless" in hospice care at the age of 58 in 2013, just 12 years after the lottery changed his life, reported the Daily Mail.
His family and friends say this story is a prime example of the influence of money. By the time Edwards died, he had lost every penny of his fortune and owed thousands of dollars to friends.
http://www.ajc.com/news/2001-won-27m...VigyQQlEABEJO/
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Senior Member
That is so tragic and so very, very sad!
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Senior Member
Crazy amount of money
What's the bet she will have many men make marriage proposals???
http://www.9news.com.au/world/2017/0...ion-us-jackpot
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Administrator
Originally Posted by
Cardinal TT
Anybody that steps up the next day after winning that much money is really unwise. She has no idea how bombarded she is going to be now by people wanting her money.
I'd get a lawyer, line up my accountants, investments, etc, etc, etc, and also move to a more secure/gated neighborhood, etc, before I let went public. In GA here they do make it public, But you have a year to claim the money, so you can stay anonymous until you're ready to claim it.
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flower planter
AJ made a great post yesterday regarding what happens in many of these cases:
http://livingfaithforum.com/forum/sh...7182#post67182
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Senior Member
Originally Posted by
fuego
Anybody that steps up the next day after winning that much money is really unwise. She has no idea how bombarded she is going to be now by people wanting her money.
I know, right?
I'd wear a disguise and insist that they not reveal my last name.
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Senior Member
Just goes to show that money doesn't solve problems. It's not the Lottery that's at fault, it's the character of those that win millions who don't know how to handle money and refuse to get sound advice from a financial advisor.
If I were given or inherited that kind of money, any large amount similar to it, my first action would be to pray seeking the counsel of the Holy Spirit, then seek professional advice from a trusted advisor.
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Senior Member
Originally Posted by
Romans828
I know, right?
I'd wear a disguise and insist that they not reveal my last name.
I believe that one of the requirements with the big games at least, is that you appear publicly with them to receive your check. But I'd have no problem at all telling people NO and would not allow myself to be bombarded with money requests from family or strangers.
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Originally Posted by
Valiant Woman
Just goes to show that money doesn't solve problems. It's not the Lottery that's at fault, it's the character of those that win millions who don't know how to handle money and refuse to get sound advice from a financial advisor.
Money just makes you more of what you already are. If you are an irresponsible greedy idiot before you win the lottery, then you'll be an irresponsible greedy idiot with a lot of money after you win it. If you are a generous person before you win the lottery, then you will be a much more generous person after you win it.
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Romans828 (08-25-2017), Valiant Woman (08-25-2017)
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