Crunch Wiped Out £4.5 Million Win

October 10th, 2013   ·   Add Your Comment Now...

1997 lottery winner Barry Chuwen had his £4.5million jackpot wiped out by the 2008 financial crunch.  Now his company, Jasper Wishaw Ltd.,  is in liquidation.

After he won the lottery, Barry invested the money in real estate, buying up property in the exclusive places in Scotland.  Initially, he was very successful and his company’s net worth grew to about £30 million.  When the financial crunch of 2008 hit, however, his properties’ values went down dramatically, which also drove rent income down.

When the banks called for payment of the loan, he had no choice but to go into liquidation.  He is not devastated by the loss since he argues that all creditors have been paid, and he still retains his house.

He is still in real estate and vows to bounce back.  Now with an outlook like that, Barry is bound to be back on top of the heap in no time.  This guy has the heart of a winner!

Read more in http://www.dailyrecord.co.uk/news/scottish-news/lottery-winner-barry-chuwen-who-2345921

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