11. William Post III
This tragic tale starts with William Post III winning $16.2 million in the Pennsylvania lottery in 1988. His total winnings equated to 26 yearly payments of $497,953.47 and immediately after getting his first payment we spent $300,000 on frivolous things. In three months his debts totalled $500,000 and after his next payment he bought a mansion for $395,000 in Oil City, Pennsylvania. One year after winning half of the $32 million jackpot William Post III was estranged from his brother. The man paid a hitman to kill William Post III and his sixth wife in a scheme to collect his winnings as an inheritance. The hitman failed and Post’s brother was arrested. Eventually William Post III had incurred more than one million dollars in debt. After losing all of his money Post collected food stamps and a $450/month stipend. The elderly man died naturally of respiratory failure in 2006, he was 66 years old.
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