There's no shortage of lottery winners going broke after winning big jackpots. That's why stories such as John McGuinness' aren't too surprising.
John McGuinness won £10 ($14,699,261 USD) million in January of 1997. Today he owes over £2 million.
When John McGuiness won the lottery, his splurging began. It included a new Ferrari Modena Spyder, £3 million worth of gifts for his family, and a £500,000 seafront property in Majorca.
But his biggest mistake was an investment in Livingston FC. That was an investment of £4million. The investment in the soccer club was a huge disaster and it ended up costing John a fortune.
Now John McGuiness is broke and probably dreaming of the days when he was a rich millionaire.
Posted by: Tino Sundin
Updated at: Wednesday, April 08, 2009
