10 Stupid Things People Have Done After Winning The Lottery

#6. Losing It Out To Bad Allocation

Just an extension of the vice of greed that was taken up in the last point, here’s a case of direct stupidity that resulted from it. Former Waffle House waitress, Tonda Lynn thought she could easily get away with keeping her millions from being shared with two of her waitress colleagues, when the three of them had verbally agreed to share the winnings if any of them ever won from tickets that they got as gifts from the joint’s patrons. Since verbal agreements related to gambling do not hold up in court, she did win the case that her colleagues filed against her. Yet, in her fear that she might lose the case, she did something really stupid. She placed her winnings in a corporation and made her family 51 percent of the stakeholders. According to the US Tax Court, Tonda thus became eligible for a gift tax of $1,119,347.90 for her $10 million winnings. No kidding!

Losing It Out To Bad Allocation

Via blogs.suntimes.com