After squandering £5.1 million winnings on expensive cars and holidays in just under 3 years, a lottery winner had to go back to depending on benefits.
Saturday, the 29th day of January 2005 was the lucky day for Pete Kyle. A big day that would change his financial status for the better. The same numbers that he had repeatedly put on each week for several years now were inserted in the Co-op National Lottery machine. Fortunately, the numbers i.e. 46, 44, 38, 27, 8 and 3 paid of this time by winning him a £5.1 million lottery.
The relatives of Pete Kyle were treated to very luxurious trips and he even purchased a 5-bedroom mansion that was featured a swimming, pool, cocktail bar and steam room. Pete Kyle mentioned that the lottery win would be used to transform the kind of life that his family lead.
Sadly, Pete is reportedly quite broke now. The Royal Artillery gunner who is already retired is now surviving off benefits despite winning a fortune.
The year 2008 saw him lose his expensive 5-bedroom mansion, a situation that compelled him to move into and consequently work at the Rooms Hotel. The hotel is situated in Plymouth and charges £15 a night for accommodation.
Plymouth Herald reported that Pete Kyle wasted approximately £4,600 every single day in purchasing premium cars, gave his children cash handouts and spent a significant amount of money in building works on his house.
The most unbelievable fact is that Pete who was 52 years old back in 2005, guessed all the 6 numbers of the lottery to win him the grand £5,122,412 jackpot, a lottery draw that was held on the fateful day of January 29th.
Pete who was on a winning streak collected an extra £500 during the celebration commemorating his jackpot win. The celebration was held 2 days later and this was at Mecca Bingo.
Back then Pete claimed to have had some luck of the Irish.
Peter said that he will never lack anything anymore. He had always not had much but that would change for the better. His life and that of his family would change.
Pete instantaneously commenced wasting the lottery winning. He even bough a new fishing boat as well as some tackle for himself.
Nonetheless, he mentioned that his key focus was to make sure that his 2 adorable children called Roy and Gemma would have a bright future. This would be in addition to spoiling them on holidays.
Pete treated himself by purchasing a mansion in which he proceeded to install a steam room, a jacuzzi, a snooker room and a bar.
However, he could not maintain the lavish lifestyle much longer and just after 3years his mansion was repossessed.
It was later disclosed by The Sun as to how Kyle squandered £40,000 in buying a Mercedes, £550,000 in acquiring a house located in Derriford, £20,000 on a luxurious 4×4 and a second £40,000 in buying a Range Rover.
Pete’s friend said that he lost all his money is several unsuccessful investments to the point that bailiffs were witnessed searching for him at his former house.
Unfortunately, Pete disappeared from the area ever since the year 2008. It is believed that he relocated to Spain.
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