Lottery winner goes from Ferrari to Ford to court

A former millionaire Lottery Winner who splashed out on a Ferrari sports car and luxury home has been banned from driving and ordered to carry out community service.

Lottery_winner_Ryan_Magee

In 2008 Ryan Magee, of Monnaboy Road, Eglinton won more than £6m on the Euromillions Lottery and went on from there to live it up splashing out on a lavish lifestyle.

That lifestyle came to an abrupt halt when he found himself before Londonderry Magistrate’s Court after been caught driving while under a ban.

The 34-year-old had been banned from driving previously but was caught behind the wheel and a judge has branded him a menace on the roads.

He did the smart thing and pleaded guilty to driving while disqualified and having no insurance on December 4, last year.

It has been reported that since becoming a Lottery winner Magee has suffered financial difficulties and racked up a string of motoring offences, including several driving bans.

A defence barrister told the court that Ryan Magee has suffered a number of misfortunes and in recent years his life could be summed up as “every silver lining has a cloud”.

The barrister went to state that it wouldn’t be fair to say that Magee was back at square one – he was effectively “several squares behind square one”.

The court wasn’t told how much, if any, of his lottery millions remains, but it is understood his case was funded by Legal Aid and when he was caught by the police, he was driving a Ford Focus – not a Ferrari.

Judge Peter King described Magee’s record for driving offences as absolutely appalling and said he could have been facing a jail sentence. Instead, he banned him from driving again and ordered him to do 200 hours community service. I guess the judge was in a forgiving mood.

That old saying ‘be careful what you wish’ seems pertinent here. Yes it might seem like a dream come true to be a lottery winner and walk away with millions but it is important to understand that with that amount of money, some money management skills will most definitely required. Here is a great article that covers some of the things you should think about if you were to win the lottery.

Whether you expect to be a lottery winner or not, improving your money management skills would definitely be a positive move. I don’t quite remember where I heard this quote from but it is most relevant in this case; It is better to be prepared for an opportunity and not have one than to have an opportunity and not be prepared.