Straight from the files of ridiculous and downright alarming because of the lack of “smarts” among us is this story:
Lottery winner blames bad advice for his losses
From $5.5 million to living on a pension
By DERRICK NUNNALLY
Posted: April 20, 2007
On the day he rode home in a limousine from his security-guard job 12 years ago with a winning $5.5 million lottery ticket in his hand, Andrew Cicero of Muskego figured he had it made.
Andrew Cicero holds a ceremonial Megabucks prize check for $5.5 million in 1995 as store manager Rick Swan (left) and owner John McAdams applaud at the Pick ‘n Save Food Store in New Berlin. Now, the money’s mostly gone.
But he finds himself now in far different straits than he imagined that May day when he accepted a giant Wisconsin Megabucks novelty check, took five secretaries to breakfast and planned both a trip to see his roots in Sicily and a college fund for his five grandchildren.
Cicero, 72, has sold his Waukesha County house and lives in a Milwaukee apartment on a pension and Social Security income while he takes an investment counselor to arbitration. This month, he sued a Milwaukee accounting firm over tax advice he claims cost him at least $170,000.