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may
27

Won 9.7 million - now everything is gone

Tags: dustman, lottery, lotto, Michael Carroll, yale.
Posted on 27 May 2010 by "T".

Michael Carroll, 27, became extremely rich 8 years ago when he took home the jackpot in a big lottery. Michael was at that time 19-years-old and living in small town in England. He had a quite bad reputation at that time because of his criminal past, and it didn't take long before he got the nickname "Lotto Lour" by the press. Anyhow, as a multi-millionaire Michael quit his daytime job and started to spend his fortune on bad investments and lots of drugs. Back in 2006, he ended up in yale for 9 months because of a fight he got into. Today, he's a father of two, but the money is all gone and now he's selling his house and also aiming to get back his old job as a dustman.

So how could everything go so wrong for him? There are probably many, many reasons. Anyhow, this is what Michael Carroll said in an interview with BBC.

"If you give £9.7 million to a 19-year-old, what do you think is going to happen?"

 


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50 comments on "Won 9.7 million - now everything is gone"

Displaying only the 25 latest comments. To view all comments, please visit the forum thread:
» Won 9.7 million - now everything is gone

 Calmplay27/05/2010 21:54:48 GMT
Wow amazing story, a very sad one to be honest.

That's a perfect example of bankrollmanagement, haha j/k Big Smile

Well you know, like fejset always said "but hey, it's just money" Cool
 watoba27/05/2010 23:04:51 GMT
lol i know now for what he spend the 9mil look at the pic.All the money is gone to rings and blink blink.But he was to stupid to buy real gold and buy sheet from a backyard dealer
 duck_199128/05/2010 00:26:43 GMT
and i feel bad for loosing a 700 $ bet :-w
 psycokiller28/05/2010 01:18:20 GMT
Spending money is very easy to do when u have it. No one wants to be responsible if they don't have to. My wife proves that to me every opportunity she gets, so why would this guy be any different.
 jessthehuman28/05/2010 01:52:30 GMT
To be fair, I probably would have ended up dead if I received that amount of money when I was 19. I think I probably would have been permanently high.

Still, Im not much of a consumerist, I wouldn't have bought any bling, dumb cars, etc. Some would have gone on a modest house (say $500K AUS$) And a lot into investments that weren't too risky. I dont think I could make it all disappear in that amount of time. Even supporting a daily drug habit that money should last a loooong ass time.
 shokaku28/05/2010 05:01:43 GMT
"If you give £9.7 million to a 19-year-old, what do you think is going to happen?"

He blows away a million or two and keeps the rest.

 mifomo28/05/2010 06:15:24 GMT
I think when I would win that amount I would put s large amount on the bank for interest.

£ 6.0 milion with interest of +/- 2 % = 120.000 a year. I would say that is a very nice income....

But then again it is easy to say when I did not won it Confused
 Miloutre28/05/2010 09:12:53 GMT
What a donk
 Fackinas28/05/2010 10:14:14 GMT
Sick man ... I don know how to do it.. I will give all my family membars 1mln and for me will be 4million I wont buy a big house just live in small, invest 1mln somewhere 0.5mln in poker ;D and other in bank .. that all ..
 Cliffem28/05/2010 11:10:39 GMT
I got in to Harvord for DUI
 kraemer28/05/2010 14:24:57 GMT
Posted by dozn01:
the main reason was because he spent most of his money on women and drugs



I'm doing that too, but I`m not broke Big Smile
 TERMINATOR28/05/2010 15:11:48 GMT
He must have a dead brain ! So sick !
 ricki18628/05/2010 17:30:36 GMT
isildur1 is the same.
 dejan6329/05/2010 01:07:12 GMT
it's just money
 Mudadzija29/05/2010 19:07:48 GMT
Talk about bad bankroll management.
And he must have studied that in "yale"
 SonFelix29/05/2010 19:23:18 GMT
how in the hell can you be able to lose over 9million pounds!!!!!!!!!!!C´mon MAN Aww crap! It´s over 10million euros Aww crap! how people can be as stupid as this fellow...

This guy must be the one who lost those 8 million dollars to Tom "durrrr" Dwan Heart
 Tchungpo31/05/2010 07:04:34 GMT
Not surprising, that is what happens with many of the people winning lottery...
Its just damn sick.... its not sane to have to much money !
 fasterisco31/05/2010 23:45:52 GMT
Not easy to spent all this mooney we can win many more just in % from the banks :S.... lucky guy ...but not smart indeed !! :x
 xxxbchxxx01/06/2010 02:08:29 GMT
Sad stupid freak... thats all i can say about this muppet.
"if you give 9.7 million to a 19 year old "...JUST SHUT UP no one wants to hear any thing that comes out of your mouth.
I hope he never gets on top again that'll teach him to be a prick.
 SuperNoob11/06/2010 14:31:03 GMT
omg really stupid to lose tht much money, but drugs can ruin anyone.
he must be regretting it all now and hoping he wins back tht money again. but it aint gonna happen again.
 captainmono11/06/2010 16:06:07 GMT
this guys an idiot. i dont feel bad at all. Im 20 and i would definitely have invested a chunk. bought a house (not 2 big) and played it smart. i dont know why criminals get lucky.
 Funope23/06/2010 03:21:32 GMT
I know what he is feeling. I had a same experience. Only thing that I was a little older and got less money.
 Fackinas23/06/2010 08:30:25 GMT
Posted by paulparadiis:
Yes, it's JAIL, not YALE. Yale is an University, if i'm correct Big Smile
Club

xD omg in this forum you can come here to make your day GREAT Big Smile
 kinogomes26/06/2010 08:34:54 GMT
A millionaire investing the money in cocaine, and 3 bitchs per day. What can we expect in the end???? of course he lost everything.
 dule-vu26/06/2010 13:57:11 GMT
you must be idiot to spend almost 10 million in 8 years and even his grandchildrens could live a very good life!especially if you do like he on drogs and bitches!just cant understand people,when you got this kind of opportunity and you blow up like you you never got anything!moron!!!

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