Breaking News US/Australia ll How cinema worker’s $30MILLION Lotto win turned into a nightmare


A man who won $30million on the lotto took the advice of a trusted real estate agent before he lost his fortune over a series of bad investments
 Sherif Girgis, 23, was working part time at a cinema in Perth when he scored the biggest lotto win in Western Australian history in 2007
The win was a dream come true that quickly spiralled into a nightmare
 Mr Girgis made a series of investments under the guidance of real estate agent and City of Joondalup deputy mayor Russell Poliwka, The West Australian reported
 He bought a pub, luxury charter boat, a nightclub and a block of land with waterfront views
Though his ventures began to lose money.Mr Girgis claimed he spent $1
335 million to renovate the pub now called the Grand Central Hotel in Midland
The venue lost more than $1million over a three-year period.He bought the West Coast Drive superblock and a nightclub once called Crush for $2
65 million.Though the bundle was said to have been overpriced
He also bought an 80ft luxury catamaran for $880,000 though the investment made no money
  Share this article Share Then in a 2012 meeting at the Melbourne Grand Prix, Mr Girgis told Mr Poliwka he had only $5million
Shortly afterwards, he cut off cash flow to his numerous businesses
Then in 2014 he launched legal action and demanded $3,441,815
50.Fast forward to this year, Mr Girgis was partly successful in his legal bid
The Supreme Court ruled Mr Poliwka to pay more than $2million
‘Mr Poliwka operated as a sounding board for Mr Girgis and was involved in decision making for Mr Girgis,’ Justice John Vaughan said
‘(He) looked to Mr Poliwka for advice and deferred to and acted on Mr Poliwka’s representations and advice
‘Reasonable reliance on Mr Poliwka’s misleading or deceptive representation, and on Mr Poliwka’s negligent advice, has been established
‘ Mr Girgis for his part was told he owed Mr Poliwka $50,000.  

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