Lottery winner loses house

5th May 2008 11:18 PM

John McGuiness won £10 million pounds on the lottery 12 years ago but has just recently lost his fight to keep ownership of his £400,000 property. Mr McGuiness, a hospital worker prior to his win, and his family recently vacated the property in Canderside Toll. He and his family are now living in a slightly more modest property valued at £320,000.

Mr McGuiness was declared bankrupt in January of this year and says of the move that “it is a fresh start” for him and his family after the financial difficulties they have faced recently.

When the rumour mill started back in January that Mr McGuiness was on the verge of losing his property he dismissed them as “mince” but it was to be revealed that he and his wife where involved in a legal battle with the Royal Bank of Scotland over ownership of the property with the repossession order being granted in December 2007.

The lottery winners’ debts now stand at over £2 million it is reported so where exactly has it all gone?

It would appear the Mr McGuiness was not given the best financial advice and at one point made the decision to invest in Livingston Foot Club which later went into liquidation owing £7 million pounds.

It would be interesting to see how the whole £10 million pounds where spent but I would imagine it’s highly unlikely that this would ever become public knowledge. I do feel for this man, being a National Lottery winner has catapulted him into the public eye and although this may be great when you are on the high I would imagine it’s not so nice now having all your dirty laundry aired in public.

Some reports say that he spent £140,000 replacing is beat up old Astra with a brand new Ferrari Modena Spyder, bought a £500,000 apartment on the sea front in Majorca, £200,000 on his wedding to his now wife Sandra and even gave £750,000 to his ex wife Hazel. At one point he had six cars on his drive that included a Mercedes, a Bentley, a Jaguar and a BMW.

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