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Verdicts

Mar. 15, 2008

Slot Player Wins Tax Jackpot - Can Deduct Unlogged Losses

Be careful what you wish for, especially if it involves vast sums of money. That proved to be Francis M. Gagliardi's problem after he won $27 million in the California lottery in 1991. Suddenly, he was flush, but he ended up flushing the bulk of his fortune into the slot machines he eventually started to patronize.

By Pat Broderick
Daily Journal Staff Writer
This article appears on Page 1 of Verdicts & Settlements.

      SAN DIEGO - Be careful what you wish for, especially if it involves vast sums of money.
      That proved to be Francis M. Gagliardi's problem after he won $27 million in the California lottery in 1991. Suddenly, he was flush, but he ended up flushing the bulk of his fortune into the ...

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