Sherif Girgis is a 23-year-old student when he received Western Australia’s largest ever lottery award - worth A $ 30 million (nearly 500 billion) - in 2007.
But he spent most of his money on a nightclub, a yacht and a pub.
Girgis’s story was made public this week when he himself successfully sued a deputy mayor of Perth, Australia for giving him bad advice on how to invest money.
Girgis, who is working part time in a movie theater before his life changed forever in 2007 when winning the biggest lottery in Western Australia, sought help with investment advice from the commissioner. Joondalup City Council, Australia - Russell Poliwka
After talking to this famous real estate broker, Girgis spent all his money buying a pub, a luxury boat, a nightclub and a land with sea views.
Then these investments became worse.
Girgis said he spent 1.4 million Australian dollars to renovate the pub now known as the Grand Central hotel in Midland. It then lost more than A $ 1.2 million over a three-year period.
He then bought a nightclub called Crush for $ 3 million
The winner of this lottery also bought a luxury yacht for 1 million Australian dollars
Then there are a bunch of other investments
All his investments are holes and do not bring a bit of profit
In 2012, Girgis told Mr. Poliwka that he had only 5 million Australian dollars in the initial bonus of 30 million dollars.
Two years later, he decided to sue in court against the man he entrusted to manage his property.
At the Australian Supreme Court last week, Judge John Vaughan ruled that Mr. Poliwka had to return a percentage of the money Girgis claimed Poliwka advised him to invest and made him lose.
The Supreme Court ruled that Mr. Poliwka had to return to Girgis more than A $ 2 million.