Casino Choice UK News Archive
Bankrupt American wins $113 million jackpot
Last summer Hugh Allen Hawkins, a real estate developer from Des Moines in Iowa, was in such financial trouble that he was forced to file for bankruptcy. With barely a penny to their name he and his wife were financially crippled – now, in their own words “we have a big pile of money”.
Hawkins has been sensible since the win, immediately hiring a team of legal and financial advisers to help him and his family deal with the change in their fortunes. And already the first piece of advice - to avoid claiming the prize until after January 1st - will have earned Hawkins thousands of dollars. Having waited till the new year the tax bill, which at $16.4 million was probably a little bigger than Hawkins was used to paying, is postponed till December – meaning a years interest on $16.4 million – you do the math!
Hawkins and his family say they are still trying to come to terms with the win, which has transformed their lives beyond comprehension. The family - Hawkins, his wife and his two sons, 6 and 12, and one daughter, 3 - used to live in a $125,000 house in the modest Beaverdale neighbourhood.
Hawkins said he didn’t know what to expect from the future, but that if there was one thing he was certain of it was that he “will not own an alarm clock from this day forward”.
Hawkins has been sensible since the win, immediately hiring a team of legal and financial advisers to help him and his family deal with the change in their fortunes. And already the first piece of advice - to avoid claiming the prize until after January 1st - will have earned Hawkins thousands of dollars. Having waited till the new year the tax bill, which at $16.4 million was probably a little bigger than Hawkins was used to paying, is postponed till December – meaning a years interest on $16.4 million – you do the math!
Hawkins and his family say they are still trying to come to terms with the win, which has transformed their lives beyond comprehension. The family - Hawkins, his wife and his two sons, 6 and 12, and one daughter, 3 - used to live in a $125,000 house in the modest Beaverdale neighbourhood.
Hawkins said he didn’t know what to expect from the future, but that if there was one thing he was certain of it was that he “will not own an alarm clock from this day forward”.
Submitted: 2006/01/05 at 10:59:32
