Vice Squad
Friday, June 18, 2004
 
Do Big Lottery Winners Frequently Go Bankrupt?


I don't know, and as I am not in Chicago, I can't really look it up easily. But I ask because the June 15, 2004 edition of Redeye (the Chicago Tribune-affiliated tabloid) includes (in an article on what happens after you win the lottery) the following claim: "...Unable to manage their sudden wealth, a third of winners end up bankrupt." Sounds like urban legend or mythical numbers to me, but I am willing to be persuaded otherwise.

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