RIP:Another lottery winner dies

[dario73]

broke!


An unemployed ex-con turned $27 million Powerball winner has died in a community hospice care after reportedly losing his mansions, cars, Learjet and moving into a storage shed.

David Lee Edwards whose life was thrust into the public spotlight after going from rags to riches overnight with his monumental 2001 win, died Saturday in Kentucky at the age of 58.

The exact cause of death was not released.

For Edwards, a drug addict who had spent a third of his life behind bars for theft, New Times Broward-Palm Beach reported, the Powerball win was truly a dream come true but perhaps not as much as a blessing as first perceived.

After living unemployed in his late parents' home and borrowing money to keep his water running, the Daily Independent reported, the 46-year-old's luck all changed when a few spare dollars afforded him $7 worth of Powerball tickets.

"I didn't want to accept this money by saying I'm going to get mansions and I'm going to get cars, I'm going to do this and that," he said while accepting his check. "I would like to accept it with humility. I want this money to last, for me, for my future wife, for my daughter and future generations."

He almost immediately next went on to share his plans to buy a Bentley while his 27-year-old fiancée, Shawna Maddux, said she wanted a Ferrari.

As time would tell, however, Edwards' so-called blessing would appear more like a curse.

James Gibbs, his former Morgan Stanley broker and financial advisor, recalled negotiating a $200,000 loan for Edwards to celebrate his win in Las Vegas.

Speaking to the New Times he revealed that in just six days into his Nevada trip, Edwards called to say he was broke and needed more money.

When he returned to Kentucky he went on to buy a $1.6 million mansion in Ashland, Kentucky, a 6,000-square-foot house in Palm Beach Gardens, Fla., and a third $600,000 home nearby, the Ashland Daily Independent reported.




Read more: http://www.nydailynews.com/news/national/unemployed-ex-con-turned-powerball-winner-dies-hospice-article-1.1536710#ixzz2mWkKhxcJ

[dario73]

According to Gibbs, Edwards would fly back and forth between Kentucky and Florida, sometimes with an entourage.

His friends would do drugs, said Gibbs, and Edwards would easily supply them.

"He actually had I don't know how many friends OD once he won the money, from him giving them money and them going and buying so much and doing so much drugs that they died. Then he would pay for their funerals," he told the New Times. "I would just sit there and cringe."

That December 2001 in Malibu he also married Maddux, a convicted mother of two, whom he was already engaged to at the time of his win.

In his first three months, Gibbs said he had blown through $3 million. In a year, Edwards estimated he spent around $12 million.

His ex-wife previously said she wished he had set some money aside for her.

Gibbs said he did put about $16 million away for him in bonds and annuities, but said Edwards liquidated them.



Read more: http://www.nydailynews.com/news/national/unemployed-ex-con-turned-powerball-winner-dies-hospice-article-1.1536710#ixzz2mWmS0Qim

[dario73]

[240 is Back]

Living the good life, impressive

[Rambone]

Haha holy shit. I remember him in the lotto documentary about these winners going broke. Pure white trashy looking carnie. Guy was buying stupid ass swords and samurai shit. 

[Orb]

The lottery has its ups and downs.

Seems to minus the ups.

[njflex]

its like that 'twighlight zone'episode it was everything u could dream of but the 'devil'offered it and your soul too..

[TrueGrit]

 What a fucking idiot. You could live a luxurious life back when he won by just living off the interest from the principal. Blowing that much is like fucking up a cup of coffee.

This guy was meant to be a loser that died early. Spastic.

[The_Punisher]

hahahahahah.....another hillbilly former powerball winner bite the dust....I now believe the Proverbial phrase, that Money is not meant for everyone to have it......put money in the wrong Hands, that's what happen

[HockeyFightFan]

$27,000,000 and he was banging that Porkie the Pig?

Yeeesh....

[Orb]

Haha. Good point. No, scratch that. Great point.

[hrspwr1]

You can`t fix stupid, not even with $27,000,000.00

[Army of One]

People astonish me, spending 200 grand on something that after the trip you have nothing physical left to show for it.The few times I've gone out and blown a load of money on drinks, food etc, shit that the next day there's fuck all to show, Ive thought I coulda bought a camera,ps3 and a lawnmower if I hadn't have gone out.

People need to realise that freedom and security is the best thing winning that money buys.

[Orb]

So, the thread on how all women want is money, is now wrong?

[The_Punisher]

$27,000,000 and he was banging that Porkie the Pig?

Yeeesh....

he was a filthy Drug addict before the money....those millions made it worst....I wonder how his daughter, who probably has no penny left on her name feel about him

[Orb]

I wonder if she cares about the money.

[affeman]

He almost immediately next went on to share his plans to buy a Bentley while his 27-year-old fiancée, Shawna Maddux, said she wanted a Ferrari.

James Gibbs, his former Morgan Stanley broker and financial advisor, recalled negotiating a $200,000 loan for Edwards to celebrate his win in Las Vegas.

When he returned to Kentucky he went on to buy a $1.6 million mansion in Ashland, Kentucky, a 6,000-square-foot house in Palm Beach Gardens, Fla., and a third $600,000 home nearby, the Ashland Daily Independent reported.

hahahahahahaha

The best thing that can happen to economy is when insanely stupid people get rich overnight. Within a few months millions and millions of $ get pumped in theeconomical system again.

[tommywishbone]

That crackhead is always on TV. Living the good life in his Florida mansion, filled with outter space paintings. Dude has a Bowflex Gold in his formal dining room. 

[JOHN MATRIX]

Seems like th only people that win the lottery are either total trash, or people who already have money

[Ronnie Rep]

hahahahahah.....another hillbilly former powerball winner bite the dust....I now believe the Proverbial phrase, that Money is not meant for everyone to have it......put money in the wrong Hands, that's what happen

Yup,ain't that the truth! See it all the time!

[bradistani]

broke!


An unemployed ex-con turned $27 million Powerball winner has died in a community hospice care after reportedly losing his mansions, cars, Learjet and moving into a storage shed.

David Lee Edwards whose life was thrust into the public spotlight after going from rags to riches overnight with his monumental 2001 win, died Saturday in Kentucky at the age of 58.

The exact cause of death was not released.

For Edwards, a drug addict who had spent a third of his life behind bars for theft, New Times Broward-Palm Beach reported, the Powerball win was truly a dream come true but perhaps not as much as a blessing as first perceived.

After living unemployed in his late parents' home and borrowing money to keep his water running, the Daily Independent reported, the 46-year-old's luck all changed when a few spare dollars afforded him $7 worth of Powerball tickets.

"I didn't want to accept this money by saying I'm going to get mansions and I'm going to get cars, I'm going to do this and that," he said while accepting his check. "I would like to accept it with humility. I want this money to last, for me, for my future wife, for my daughter and future generations."

He almost immediately next went on to share his plans to buy a Bentley while his 27-year-old fiancée, Shawna Maddux, said she wanted a Ferrari.

As time would tell, however, Edwards' so-called blessing would appear more like a curse.

James Gibbs, his former Morgan Stanley broker and financial advisor, recalled negotiating a $200,000 loan for Edwards to celebrate his win in Las Vegas.

Speaking to the New Times he revealed that in just six days into his Nevada trip, Edwards called to say he was broke and needed more money.

When he returned to Kentucky he went on to buy a $1.6 million mansion in Ashland, Kentucky, a 6,000-square-foot house in Palm Beach Gardens, Fla., and a third $600,000 home nearby, the Ashland Daily Independent reported.




Read more: http://www.nydailynews.com/news/national/unemployed-ex-con-turned-powerball-winner-dies-hospice-article-1.1536710#ixzz2mWkKhxcJ

mansions (plural)   Learjet    mad fucker living like he's a billionaire 

[galeniko]

where i worked once, some fatso who could barely breath without turning purple in his gross face, they guy won the lottery, but decided to keep working and he ust died of fatness soon later.

another "specialist" has won the lottery too,and despite all frends telling him to keep a job, hes more or less literaly blown it all up(coke).

keep in mind lotery payout is not as much as in the us, its few millions or so.

i hear in the usa they dont ay out all at once, but in monthly rates,is this true?

[f450]

mansions (plural)   Learjet    mad fucker living like he's a billionaire 

I thought a learjet cost like 40mil how does he ven afford that. If I won the lottery, I would go on a year long sabatical and spend nothing. It seems most of those bad decisions happen in the first year and the rest of the money is spent trying to rectify or justify that first year.

[Wiggs]

where i worked once, some fatso who could barely breath without turning purple in his gross face, they guy won the lottery, but decided to keep working and he ust died of fatness soon later.

another "specialist" has won the lottery too,and despite all frends telling him to keep a job, hes more or less literaly blown it all up(coke).

keep in mind lotery payout is not as much as in the us, its few millions or so.

i hear in the usa they dont ay out all at once, but in monthly rates,is this true?

You have an option. Lump sum and heavily taxed so you get less. Or payments, less taxed but you don't get all your money.

[f450]

where i worked once, some fatso who could barely breath without turning purple in his gross face, they guy won the lottery, but decided to keep working and he ust died of fatness soon later.

another "specialist" has won the lottery too,and despite all frends telling him to keep a job, hes more or less literaly blown it all up(coke).

keep in mind lotery payout is not as much as in the us, its few millions or so.

i hear in the usa they dont ay out all at once, but in monthly rates,is this true?

I believe you get to choose how you want the payouts... most people take the big payout though. Taxes takes at least 35% of the top so you end up with a little more than half of the original amount...still not a bad return for spending one dollar.