Lottery winner facing tax fraud trial dies

Comment #14

MillionsWanted — Tue, 29 Apr 2008 10:27:21 GMT

A tragic end to a tragic lottery winners life.

Comment #13

jackpotismine — Mon, 28 Apr 2008 18:41:03 GMT

VERY WELL SAID

Comment #12

KY Floyd — Mon, 28 Apr 2008 18:05:50 GMT

They owe that much because they sold the annuity about 8 years ago. The 1.6 million would have resulted in about 600k in federal taxes, if they had been paid when they were due. Filing a false return means significant penalties are added to the original amount, and then you owe interest until the obligation is paid.

Comment #11

JackpotWanna — Mon, 28 Apr 2008 01:09:55 GMT

I rather lose it my way.

Comment #10

DC81 — Sun, 27 Apr 2008 22:56:53 GMT

Of course you can't completely trust your advisors either, I mean you can't just let them have free reign over your assets while you retire and don't have a hand in the managing of things to see where all the money is going, you need to take an active role and be the one who makes the real, final decisions with YOUR money, that's why they're advisors not partners you re supposed to listen to their advise and come up with a decision which should be done after doing your own research, not just bli... [ More ]

Comment #9

MeFirstYouLast — Sun, 27 Apr 2008 04:43:20 GMT

Seem to me this couple never tried to obtain intelligent advise, or ignore it when it was given. They won every little money, especially over annuity payments. That is chicken feed for a lottery winner. They won millions, they want millions. They were too dumb to realize they were never gonna get millions. As with almost every single jackpot winner that doesn't plan beyound day two of the winning, they were doomed. They never stood a chance. They might as well as taken their clothes off, dumped... [ More ]

Comment #8

JAP69 — Sun, 27 Apr 2008 02:50:18 GMT

Do ya think the gov't is trying to get a lot here in taxes

sold the annuity to Singer Asset and Finance for two lump sums, $1.59 million to Alex Toth and $1.49 million to Rhoda Toth.

In total, the agreement states, Rhoda Toth owes the government $1.1 million and her husband owed $1.4 million

You better watch out you better not cry the tax man is coming to town.

Comment #7

DC81 — Sun, 27 Apr 2008 00:21:04 GMT

Well, with the taxes I don't think there's anything wrong with moving to a state/county/city without a income tax, but you're not going to trick anyone by doing it by claiming you lived at this place before the numbers were drawn and you'd have to pay anyway. Just move afterwards if you really want to and pay what you owe at tax time and get it over. Then next year you won't have to bother with it again and if you're smart with the money you should be able to make it back (and them some, even af... [ More ]

Comment #6

reddhott425 — Sat, 26 Apr 2008 23:57:41 GMT

This is one sad story. I sure hope that everyone involved learns from this, chalks it up to experience and has good luck in the future.

Comment #5

Coin Toss — Sat, 26 Apr 2008 16:33:18 GMT

Put it this way, people on this board have recently suggested moving to a tax free state after they've hit a jackpot, to beat the state they moved from out of the taxes.

One size fits all, and all that.

I agree with you 150% about the gambling.

Comment #4

Piaceri — Sat, 26 Apr 2008 15:08:35 GMT

Perfect example of why a $13m lottery win is not enough to have an extravagant lifestyle. After the taxes are paid, there is enough to invest for a very comfortable retirement and still have a few extra comforts. Buying luxuries is like buying a horse - it's not the purchase price, but the maintenance cost that is the most costly. People who don't realize the maintenance cost of living a luxurious lifestyle go broke fast.

Comment #3

DC81 — Sat, 26 Apr 2008 14:36:10 GMT

Were they really dumb enough to think that they could do that and the IRS wouldn't know or look into it??? Then again, annuity buyers are a shady bunch.

Oh and just as I expected with the gambling thing.

Comment #2

Coin Toss — Sat, 26 Apr 2008 13:56:02 GMT

I sincerely hope those members here who are fond of making how to beat the tax man posts see this article.

Also I hope people take note of this from the article:

In 1999, they sold the annuity to Singer Asset and Finance for two lumpsums, $1.59 million to Alex Toth and $1.49 million to Rhoda Toth.

Comment #1

jackpotismine — Sat, 26 Apr 2008 03:40:29 GMT

At least they had a chance at the good life . Winning doesn't guarantee happiness only opportunities. Very few people get a chance to win a Jackpot.

Lottery winner facing tax fraud trial dies

Lottery Post — Fri, 25 Apr 2008 23:11:59 GMT

Editor's Note: A less in-depth news story about this lottery winner was posted earlier today: $13 million Florida Lotto winner dies a pauper

Former lottery multi-millionaire Alex Toth, who was broke and facing tax fraud charges, has died at the age of 60.

Toth was scheduled to go on trial in June, accused of filing fake tax returns with his wife, Rhoda, who has pleaded guilty and is awaiting sentencing.

By the time the couple were charged in 2006, authorities said they appeared to have... [ More ]