December 15, 2017

Another Lottery Story with a Bankruptcy Angle

cash windfall and bankruptcyI ran across an interesting lottery story with an interesting bankruptcy twist.  This story took place in Syracuse, New York where a down and out maintenance worker named Robert Miles bought a scratch off lottery ticket in a quick mart in 2006.

Addicted to drugs at the time, Mr. Miles took his ticket to the proprietors of the Green Ale Market to find out if he had won.  The owners of the Market responded that yes, he had won $5,000.  In reality, the winning ticket was worth $5 million.  The store owners gave him $4,000, keeping $1,000 of the “winnings” for themselves as a fee(!).  The store owners then waited six years to submit the winning $5 million ticket.

Officials at the state lottery office launched an investigation because they were suspicious that the purported winner had waited six years to come forward and that the winner owned the store where the ticket was sold.

When he read about the store owners’ stroke of luck, Mr. Miles – now sober – came forward to say he had been ripped off.  The store owners ended up in jail and Mr. Miles was awarded his deserved $5 million.

The news story also reports that in 2008, Mr. Miles filed bankruptcy, “knowing that he should have been a millionaire five times over.” [Read more…]

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