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Another Lottery Winner In Trouble Story
Old 07-27-2016, 09:45 AM   #1
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Another Lottery Winner In Trouble Story

Guy wins the lottery then decides to plunk the windfall into a crystal meth ring . I guess $3 Million just wasn't enough .

Quote:
A Georgia man who won $3 million in lottery winnings has pleaded guilty to using his dough to invest in a crystal meth ring, federal prosecutors said Tuesday.

Ronnie Music Jr., 45, used his 2015 windfall to buy the drugs, then supply it to others who would resell it at a profit, according to the U.S. Attorney's Office in the Southern District of Georgia.
Quote:
Music "decided to test his luck by sinking millions of dollars of lottery winnings into the purchase and sale of crystal meth," U.S. Attorney Ed Tarver said in a statement. "As a result of his unsound investment strategy, Music now faces decades in a federal prison."
Georgia Man Who Won $3M Lottery Pleads Guilty to Funding Crystal Meth Ring - NBC News
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Old 07-27-2016, 09:48 AM   #2
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anyone playing the powerball tonight?
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Old 07-27-2016, 09:56 AM   #3
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anyone playing the powerball tonight?

Yup! $400M should buy a lot of meth!
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Old 07-27-2016, 10:06 AM   #4
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I bought my first lottery ticket ever a couple of months ago. I had one number to match which entitled me to $4, just enough to cover the cost of my tickets. Didn't bother to drive back for my prize.
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Old 07-27-2016, 10:10 AM   #5
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Yup! $400M should buy a lot of meth!
that's methed up
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Old 07-27-2016, 10:19 AM   #6
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Just an entrepreneur investing in what he knows!!

Sent from my LG-H810 using Early Retirement Forum mobile app
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Old 07-27-2016, 12:24 PM   #7
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Investing lottery windfall in organized crime? That's a new one!!!

Hmmm - it could have been extortion....... (Goes with the territory)
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Old 07-27-2016, 12:38 PM   #8
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Yeah...I don't play the lotto anywhere...but especially in Georgia. Not much good comes from "winning" these things.

https://www.washingtonpost.com/news/...home-invasion/
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Old 07-27-2016, 01:06 PM   #9
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Illinois has a solution... just don't pay lottery winners... problem solved!

Quote:
For the second straight year, Illinois will stop paying lottery winners starting July 1 — a direct casualty of the ongoing budget impasse, according to Comptroller Leslie Munger.

“Existing spending for schools, 911 call centers, domestic violence shelters, federally funded social and human services and higher education (also) will stop next month without new legislation,” Munger said in a statement.

In 2015, the state stopped paying people who won more than $600 during the first year of state operations with no budget. The drought lasted until Dec. 7, when Gov. Bruce Rauner signed legislation appropriating $1 billion for payouts, which resumed about a week later.

By July, however, that appropriation will end, and Illinois will have to go through the same legislative process before it can issue anything more than an IOU for $23 billion in total spending it appropriated piecemeal in 2015.
Illinois Lottery to delay making large payment after July 1 | Belleville News-Democrat
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Old 07-27-2016, 02:27 PM   #10
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Just an entrepreneur investing in what he knows!!
+1

He probably read this forum, and was told that $3M is not what it used to be. So, he needed to invest, and he followed what Peter Lynch once advised. That is one should invest in the businesses that he understands.

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Illinois has a solution... just don't pay lottery winners... problem solved!
Darn! If and when I buy and win the lottery, I've got to remember to take it in cash. Can't trust nobody these days, particularly the gummint.
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Old 07-27-2016, 04:55 PM   #11
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Proof any idiot can buy a lottery ticket.

As for IL, it is practically a crime, the State gov't will not pay out for things like lottery winnings, but they still insist you pay. Wonder where the pile of $$$ is accumulating ?
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Old 07-27-2016, 09:42 PM   #12
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...
Darn! If and when I buy and win the lottery, I've got to remember to take it in cash. Can't trust nobody these days, particularly the gummint.
IL isn't paying out lump sum cash either. It's not just the lifetime payments.

I tel everyone I know, don't get in a position where you are due a significant refund for your IL income tax. It may be delayed. Maybe I should encourage them - less that IL will need to try to get from me?

-ERD50
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Old 07-27-2016, 10:02 PM   #13
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No, now they don't. But I am talking about a state, any state, who is currently solvent may not be so 10 or 20 years from now. Even the Federal will be in trouble with SS and Medicare, right?

A bird in hand...
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