Ex Gunner does in 5 million lotto win in 3 years

#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.

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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."

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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."
 
#3
I Won a tenner once. Spent it immediately on 8 ACE.
 
#5
4,500 a day on what though, less he had a crack / gambling/ whore addiction thats some going
 
#6
The_Terrible_Twins said:
4,500 a day on what though, less he had a crack / gambling/ whore addiction thats some going
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.

Cal
 
#8
callum13 said:
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

Cal
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?
 
#11
He should marry Macartney, he pays £17,00 grand a day just for marrying him.
 
#14
The fact that his whole family have Huntingtons

Jean, Carol, David and Steven all suffer from Huntington's Disease,
seems to have passed everyone by here.

Huntington's disease (HD) results from genetically programmed degeneration of brain cells, called neurons, in certain areas of the brain. This degeneration causes uncontrolled movements, loss of intellectual faculties, and emotional disturbance.Some early symptoms of HD are mood swings, depression, irritability or trouble driving, learning new things, remembering a fact, or making a decision.
Wonder if you can have all the symptoms without actually having the disease?
 
#15
callum13 said:
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.

Cal
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?

K13
 
#16
K13, you posh bastard you! 150-250 grand house is a fcuking mansion round the north east,literally,how much is penguin soup down there?

cal
 
#17
Steven said:
The fact that his whole family have Huntingtons

Jean, Carol, David and Steven all suffer from Huntington's Disease,
seems to have passed everyone by here.

Huntington's disease (HD) results from genetically programmed degeneration of brain cells, called neurons, in certain areas of the brain. This degeneration causes uncontrolled movements, loss of intellectual faculties, and emotional disturbance.Some early symptoms of HD are mood swings, depression, irritability or trouble driving, learning new things, remembering a fact, or making a decision.
Wonder if you can have all the symptoms without actually having the disease?
This is one of my areas of professional concern, and no you can't. HD is a vicious illness made worse by the fact that if there is a family history 50% of offspring will also have the condition.

The physical symptoms manifest themselves first in the vast majority of cases, with the mental ones following on. With 4 of his siblings having the illness he is unlikely to develop HD unless he's extremely unlucky. At 55 he would have had symptoms for 20 years at least if he was going to develop HD and would be lucky (or unlucky enough, as I say it's a horrible illness) to still be alive at his age.

HD, certainly now, once people start to reach the mid-later stages, almost always falls into the criteria for Fully Funded NHS care ie we fund any nursing home placements or home based care packages. There isn't very much that could be provided in terms of cash that the NHS wouldn't fund anyhow.
 
#18
callum13 said:
K13, you posh fatherless you! 150-250 grand house is a fcuking mansion round the north east,literally,how much is penguin soup down there?

cal
£250k here would get you a three bed semi on the outskirts of town. £150k would probably secure you a two bed flat.

Depends on the penguin used to make the soup bearing in mind there are 17 different types. And in the NE it would be puffin soup I presume?

But to continue with the spending of the lottery; I do believe that anyone who wins vast amounts and then claims that 'it won't change me one little bit', continues to work in the same job, live in same house, drive cheap car, go on same holidays should be made to give the fcuker back. So someone more deserving can win it and spend money on all the things deserving of oppulant wealth ... mansion, super car, high class whores, cocaine et al.

If you don't want it to change your life then don't buy the fcuking ticket in the first place!
 
#19
£150k gets you my 3/4 bed detached, 1930's, high ceilings, big bay windows, original fireplaces, solid oak flooring throughout, south facing garden. 3 double bedrooms plus large loft conversion, 5 piece bathroom, right next door to a great park and 3 mins walk from the beach!

The downside.

It's in Blackpool which sucks, I couldn't give it away.
 
#20
Pocoyo said:
£150k gets you my 3/4 bed detached, 1930's, high ceilings, big bay windows, original fireplaces, solid oak flooring throughout, south facing garden. 3 double bedrooms plus large loft conversion, 5 piece bathroom, right next door to a great park and 3 mins walk from the beach!

The downside.

It's in Blackpool which sucks, I couldn't give it away.
Mines an ex army MQ, three bed semi in a quite cul de sac . Bought in 1996 under the discount scheme for the unlikely price of £47,500 it is now worth £250k!

Downside was I had to buy my ex out as part of the divorce so it cost me nearer £100k. :x
 
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