Sodeto Spain Lottery Town Bankruptcy Questions
Sodeto is a very small village of 250 people in the north of Spain. The town has had a horrible economy for quite a long time and residents faced an overwhelming 23% unemployment until their luck changed.
The local housewives club convinced residents to purchase lottery tickets in the 700 Million Euros El Gordo lottery. That move paid off when the town won 17% of the prize money, totaling just over 120 Million Euros ($158 Million Dollars).
Unfortunately, since their big win, the town has been onset by every kind of financial vulture... with salesmen crowding into the town and looking for easy prey. Selling expensive luxury items to residents who seem to be in a hurry to spend all the money they finally have access to, when they could be using it to rebuild the infrastructure necessary to create a long lasting and stable economic boom.
Will the townsfolk get the honest financial advice needed and take the precautions necessary to bring about sustainable growth? Or will this become one of the biggest cautionary tales in municipal lottery history? Only time will tell, and you can stay tuned to Lotto 365 for updates on this developing news.