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Lebanese Lotto Winner Loses All of his AUD 30 Million Fortune

Lebanese Lotto Winner Loses All of his AUD 30 Million Fortune

Tuesday, 9 July, 2019 - 05:30
Sherif Girgis. File photo
London - Asharq Al-Awsat
A Lebanese lottery winner in Australia has lost all his fortune after a series of bad investments, Britain’s The Daily Mirror newspaper reported.

Sherif Girgis was just 23 when he bagged the jackpot of $30 million (Australian Dollars). But he took the advice of a trusted real estate agent in Perth, Australia, and bought a pub, luxury charter boat, a nightclub and lock of land with waterfront views, it said.

According to the Mirror he splurged more than $1.3 million on transforming the pub but the venue in Midland, Perth, lost a staggering $1 million over a three-year period.

His other disastrous ventures have also flopped and now Girgis has lost his windfall, the report said.

The former cinema worker launched legal action against Russell Poliwka, the businessman he entrusted with managing his fortune.

But last week, a court ruled Poliwka should only pay Girgis 2 million and not the complete fortune he'd hoped for, the Mirror added.

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