Millionaire No More

Just in case you wondered what sometimes happens to the “99%” when they suddenly come into money – great huge vast sums of money … a cautionary tale follows.

CBS St. Louis

A Carthage, Missouri millionaire who sued the popcorn flavor plant where he worked has now lost both his health and the court judgement he won for damage done.

Eric Peoples says he suffered irreversible lung damage while he worked for International Flavors, Incorporated making butter flavoring for popcorn.

He and his wife were awarded 20-million dollars in 2004.

They built a 4-million dollar house and spent so much they landed in bankruptcy court last month.

The Joplin Globe says Eric and Cassandra Peoples’ house is now worth only 700-thousand and their other losses ate up the rest of the money.

Federal bankruptcy court in Springfield, Missouri is handling the case.

– Bob Hamilton, KMOX News

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