Saturday, May 15, 2010

Financial contracts with friends never work out

When it comes to money, there's no such thing as friends....

From NJ.com -- For more than a month, the ritual among a group of construction workers from Elizabeth was the same: They’d chip in $2 each to buy lottery tickets, for a chance at the shared dream of a multi-million dollar jackpot.

But when their winning numbers finally came in on Nov. 10, 2009, one of the workers claimed the $38.5 million prize wasn’t part of the regular lottery pool, and belonged to him alone, according to a complaint filed by the lawyer for five of the six longtime co-workers.


Apparently the taxes on $38.5million in lottery winnings leaves only $14million left. I'll bet that both attorneys get together over beers every night and scheme about how to drag the law suit out until all the $14million has been spent with them.

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