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The Heartbreaking Story Of a Woman Who Lost $2.5 Million To Jackpot in S’pore

2017-06-09 , 10:00 am

If you know anyone who likes playing the jackpot machine, it might be a good idea to show them this article.

Because this article is the story of a woman who lost all of her life savings to said machines. Not only that, she ended up heavily in debt too.

Here’s her story.

Female Boss Grew Addicted to Jackpot Machines

It was reported in Lianhe Zaobao that a 69-year-old female boss lost almost $2.5 million on Jackpot machines. Not only that, she also incurred a debt of $1.7 million.

In 2014, the sister she was staying with passed away due to cancer. Unable to stand the loneliness, she turned to playing jackpot machines.

And she got addicted.

At one point in time, she lost so much money to the machines that her daily expenses were all paid for via credit card.

It got so bad that she incurred $600,000 in credit card debts and another $1.1 million to credit lenders.

At that time, social workers managed to mediate between her and the credit lenders, and they agreed to let her clear her debt with $800,000.

The woman’s siblings dug into their own savings and paid her debt on her behalf. After that incident, the woman swore that she wouldn’t gamble again.

But that’s not how the story ends. There’s more

So there she was, never wanting to get together with jackpot machines again when three months later, a credit lender called her up.

He asked her if she needed any money, and they were willing to lend her. Unable to resist the temptation, she borrowed $50,000.

And that was when the entire cycle started again.

She went back to jackpot machines and got addicted again.

And that’s not all.

It led to her getting into a debt of $1.7 million. Yeah, you’ve read it right: $1.7 million.

Every few days, the credit lenders will call her and tell her that the contract is up. If she does not have the money to pay off her debt, she’ll have to borrow more from them in order to pay off the “current contract” and sign a new one.

It was reported that she “renewed” her contract 18 times. Every time she starts a new contract, there is a 10% administrative fee and 4% interest incurred. And they always try to psycho her to borrow even more money.

She ended up borrowing $130,000 within a year and has to fork out $210,000 to one of the credit lenders for administrative and interest fees.

Her credit lenders even introduced her to other money lenders and told her to borrow from them to pay off the debt.

Brother suspects different loan sharks belong to the same organisation

The woman’s brother suspected that the different loan sharks are from the same organisation, and they’re specifically targeting her for her wealth.

He claimed that whenever there is a deadline coming up at 7 pm on that day, another loan shark will call up at 5 pm, asking if she needs any money.

And it always works.

In two years, the woman said that she lost her life savings of $2.5 million and incurred another $2 million debt.

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Featured Image: Pavel L Photo and Video / Shutterstock.com

This article was first published on goodyfeed.com