Ex Gunner does in 5 million lotto win in 3 years

Discussion in 'Gunners' started by mon_colonel, Apr 11, 2008.

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  1. Spunking a 5 million pound fortune ina few years is'nt just the preserve of chavs it would seem, see below from the London Evening News

    "£5million lotto winner goes from millionaire to the dole in just three years
    Last updated at 16:52pm on 11.04.08
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    It took just over three years for Lottery winner Pete Kyle to squander his £5million fortune and end up on benefits.

    Mr Kyle, 55, has gone from a luxury home to a shabby room in a guesthouse and from a top-of-the-range Mercedes to a rusty Vauxhall Astra in the space of 38 months.

    He lives in a run-down, seedy hotel where he earns his keep working as a caretaker and general dogsbody.

    Scroll down for more ...

    Loaded: Peter Kyle celebrating his £5.1million lottery win with a glass of Champagne

    The divorced father-of-two won £5.1million in February 2005 and splashed out on luxury homes, cars and holidays.

    But now Mr Kyle owes money and is claiming £100 a week in disability living allowances and mobility allowance, it has been reported.

    The trusting former Royal Artillery gunner apparently made a few bad investments and handed over cash to friends claiming they were going to help him maximise his money.

    On average, Mr Kyle would have had to spend £4,600 a day to lose the Lottery jackpot.

    Among his many purchases was a £550,000 house in Plymouth, Devon, a £40,000 Mercedes, a £40,000 Range Rover and £20,000 on a second 4x4.

    Mr Kyle also gave money to his children Gemma, 23, and Roy, 14.

    "He had a golden opportunity to turn his life around - and then blew it," a source told The Sun.

    "He took some bad advice from bad people and handed his money over too readily to them.

    "How he's got nothing and even owes cash.

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    Spend, spend, spend: Wylie splashed out £550,000 on a luxury home and a fleet of 4x4s

    "It's hard to believe he was a millionaire, now he's just a mess."

    Shortly after his win - one of the biggest in Lottery history - he was branded Britain's meanest man when he reportedly refused to help care for his ill brothers and sisters.

    Jean, Carol, David and Steven all suffer from Huntington's Disease, which is an incurable condition.

    Some family members claimed he had refused to give his siblings any money, a allegation he denied at the time.

    Now the Lottery winner, who was still a millionaire last year, has been forced to sell his home, cars and other luxury possession so he can afford to live.

    A source told the newspaper about life at the £15-a-night hotel that Mr Kyle now calls home.

    "Pete has been working at the hotel for a few months just to get by.

    "He has his own room, marked private, and he spends a lot of time in there."

    Scroll down for more...

    Broke: Kyle is living and working in this hostel in Plymouth

    He described Mr Kyle as "shuffling" around the hotel and cooking breakfast for the guests.

    In January, an unnamed creditor apparently secured a county court judgement against him for £590.

    Mr Kyle refused to comment."
  2. That's RA for you!
  3. I Won a tenner once. Spent it immediately on 8 ACE.
  4. Feck it,at least his friends now are genuine
  5. 4,500 a day on what though, less he had a crack / gambling/ whore addiction thats some going
  6. 4 1/2 grand a day whore habbit?

    No wonder he shuffles around a doss-house in his slippers - he's lucky to be alive! (But what a way to go! :roll: )
  7. He could have lived on 40 grand a year for the rest of his life payed off a 150grand house and 10k car and only just half his money gone then he could put the rest in investments, high intrest account, for his kids etc. I always think if i won vast amounts i would get it in one of those accounts were unless you are in a dire situation you can only touch so much a year or are given so much a month of that years amount - kind of like a salary thing, muppets fault.

  8. Agreed - but with a 4 1/2 grand hooker day.... just once a month :wink:
  9. I hope he's got enough left to buy a dictionary; because we all know where he'll find Sympathy... :twisted:

    And what is this "friends" thing you humans speak off?
  10. Rubbish. Everyone knows that 8 ACE are only £1.49.
  11. He should marry Macartney, he pays £17,00 grand a day just for marrying him.
  12. anybody serve with him??
  13. What a waste!
  14. The fact that his whole family have Huntingtons

    seems to have passed everyone by here.

    Wonder if you can have all the symptoms without actually having the disease?
  15. I don't think £650k on a house and cars is wasting money when you have just won £5.1 million. If you had that money in the bank you certainly wouldn't be living in a 150k house (or caravan as we would call that value of property in Kent) nor would you be driving a crappy 10k car!

    I got a £250k insurance settlement five and a half years ago and I certainly don't drive a fcuking Corsa! Nor do I live in a shed ... and I have some left and invested (although some of that will be invested in a brand new Jaguar XF at the end of the year ... gf is adamant that I shouldn't spend it on hookers :roll: ).

    So it's not the house or cars that have led to his downfall but rather the poor investments. And maybe his kids have a fair bit left over?