Lottery winners sue financial adviser

Comment #4

tg636 — Thu, 25 Sep 2003 17:33:00 GMT

>why people take a windfall like that and try to make more in the game of risky investments is beyond me....I agree. If they do they should be prepared to lose. It's hard to feel sorry for them. Even if they kept the money in a vault and invested nothing, they could spend $475,000 a year for the next 40 years. It can't be that hard to let the money sit in bonds while you figure out where to invest it.

Comment #3

fja — Wed, 24 Sep 2003 19:45:54 GMT

It looks like they still have some cash left at least....why people take a windfall like that and try to make more in the game of risky investments is beyond me....but then I haven't had the chance to try it yet either, so I guess I shouldn't say anything about it.

Comment #2

CASH Only — Wed, 24 Sep 2003 14:05:08 GMT

Interesting the winners were CANADIAN-didn't have to worry about paying taxes on winnings, or having to receive annuity payments...

Comment #1

hypersoniq — Wed, 24 Sep 2003 13:03:44 GMT

exactly why you need to be prepared, AND have a TEAM...there is usually several weeks down time while a winning ticket is being validated... I'd take that time and learn everything I could about high finance management and asset protection...

Lottery winners sue financial adviser

Lottery Post — Wed, 24 Sep 2003 07:57:41 GMT

A Vaughan, Ontario, couple who won over $19 million in a lottery are suing a lawyer-businessman for $7.75 million, alleging his investments squandered almost $5 million of their money.Vito and Sabrina Palmieri won the Lotto Super 7 in February 2001, and retained Toronto lawyer Dev Misir to look after their legal rights and financial interests, according to their statement of claim.The Palmieris claim that Misir invested their money in financially troubled companies in which he had financial int... [ More ]