Lottery winner ‘regretted’ £11m fortune when brother hired hitman to kill him

We all dream of winning big on the lottery but the life story of one American winner shows there's not always gold at the end of the rainbow.

In 1988, William "Bud" Post III scooped the winning tickets of the Pennsylvania Lottery and was rewarded with a $16.2 million (£11 million) cash prize.

It was perhaps the greatest rags to riches story of all time as when Post won the lottery he had only $2 dollars in his bank account according to TIME magazine.

But what happened next was more the stuff of nightmares than the fairy tale ending many of us might envisage.

As part of Post's winnings, he was to be awarded an annual payment of around $500,000 – which is more than enough money to do whatever you want with.

The trouble was Post didn't spend it wisely at all.

Speaking to the LA Times, bankruptcy lawyer John Lacher described Post as "like ‘The Beverly Hillbillies,’ who did everything you would expect of a guy who became a millionaire overnight.”

Within two weeks of his first payment, Post had already spent two-thirds of it on a restaurant and a used car lot.

Things then went from bad to worse when his actual brother was arrested for hiring a hitman to kill him.

According to YahooNews, his brother had placed the hit on him and his sixth wife in an unsuccessful attempt to receive the inheritance.

To stay up to date with all the latest news, make sure you sign up for one of our newsletters here.

As it turns out there wouldn't have been any inheritance to give.

Buoyed by surviving the hit, Post made a series of questionable purchases and investments including buying a twin-engine jet despite not owning a pilot license.

Eventually, he was forced to declare bankruptcy and spent time in jail for firing a gun over the head of a bill collector.

Speaking to the Washington Post in 1993, 13 years before his death at 66, Post complained of the problems wealth had created for him.

He said: "Everybody dreams of winning money, but nobody realizes the nightmares that come out of the woodwork, or the problems.

"I was much happier when I was broke."

Source: Read Full Article