Posted on 01/09/2019 5:38:19 PM PST by NRx
If you win the lottery, experts say, you should keep as quiet as possible about it. A lottery winner from Vacaville, California, whose situation escalated to the point where the police had to get involved, just learned that lesson the hard way.
As Lt. Chris Polen of the Vacaville Police Department, who wrote a popular Facebook post about the story, tells CNBC Make It, "We've seen lottery schemes in the past, but nothing of this magnitude."
On Dec. 20, the lottery winner, whom we'll call LW since he has asked local authorities not to reveal his identity, went into a Lucky Supermarket and purchased a $30 scratch-off lottery ticket that he believed to be worth $10,000. LW went home and told his two roommates the good news.
But the next morning, when he took a trip to the Sacramento district office of the California State Lottery to collect his prize, lottery officials turned LW away, saying there was a problem with his ticket.
Later that week, Polen says, LW's 35-year-old roommate Adul Saosongyang went to the lottery office himself with the winning ticket in hand. That kicked off an investigation to confirm that Saosongyang was the actual winner, which is protocol when large prizes are at stake.
When the lottery investigators went to Lucky's to obtain video footage of the purchase, they were told the ticket may have been stolen. That's when they connected with the police.
(Excerpt) Read more at cnbc.com ...
roommate Adul Saosongyang .............Amish.
Uh, so is it 10K, or 10M?
the top jackpot appears to be $10 million? Anyway, foolish meets scumbag.
http://www.google.com/search?q=$30+scratch-off+lottery+california
It’s 10 million.
He should have kept his mouth shut until He was ready to move out.
All you need to know.
Yep. Anything lottery has to establish a lawful chain of possesion. Stupid winners somehow believe that if they hire enough scam lawyers and advisors that they can somehow be anonymous. Fools!
Please don’t chop up a story without noting where you removed stuff. Your version made little sense.
Even in those states that do allow anonymous collection of jackpots, people will likely get a clue from the changes in lifestyle. If I won the (non existent) Alabama Lottery and kept it quiet, people would still wonder why I quit my job and started driving a truck everywhere with a bass boat in tow. Not a problem, really, since I would also be making several firearms purchases for increased self defense purposes.
Yes.
[get a clue from the changes in lifestyle]
Yes, it would be virtually impossible to hide from anyone who knew you before. It would be rather obvious.
go big...
I think its weird that a lieutenant in the Vacaville Police Department would be posting on Facebook about this story.
About two million, discounted to net present value, and taking out all the tax.
Enough to live a nice lifestyle, if invested prudently.
It will not be invested prudently.
If it follows the averages, it will all be gone in five years.
He should have let the roommate keep it, as he clearly won’t be able to hang on to it.
One of the things I would do is move where it is really cheap to live.
How rude!
He will have to pay 37% Federal income tax and that’s it. Incredibly, California does not tax lottery winnings. So he should walk away with a little over $6 million. If I were him, I’d move to a low (or no) tax state. Then put $3 million in a low cost tax exempt bond fund. That should yield around $100k tax free per annum. That’s not enough to live the Trump lifestyle, but it is a comfortable middle class income that he won’t have to work for. Then I’d put $2 million in a dirt cheap total US stock mkt index fund and $1 million in an international stock mkt index fund. Set the dividends to reinvest and ten years from now, the odds suggest he will have doubled that money. Anything left over I’d pay off any debt and then buy gold coins and lock them in a safe deposit box.
The odds of winning anything are so high, you might as well just throw your money in the trash. I have better uses for mine.
Heard a joke from a comedian who said, "The lottery is a retirement plan for rednecks."
Apologies to rednecks everywhere.
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