Shock in Thailand over man who wins $7.4 million in the lottery and ends up homeless after trusting the bank

Francisco Guerrero, a humble construction worker originally from Spain, once lived a dream that many only fantasize about: he won the lottery. In 2005, his winning ticket earned him 240 million baht — roughly $7 million USD. But what seemed like the beginning of a carefree life turned into a bitter nightmare two decades later: no home, no money, and a life marked by misinformation and misplaced trust.

Knowing he didn’t have the knowledge to manage such a large sum, Guerrero turned to his bank for advice. There, he says, they wined and dined him with promises and pleasantries. “They took me out to lunch, gave me two glasses of wine, and I signed everything they put in front of me. To this day, I still don’t know exactly what I signed,” he told several Thai media outlets.

A costly mistake

What Guerrero unknowingly agreed to was a poorly planned investment that not only wiped out his portion of the prize but also the 40% he had shared with his five children. All of the funds were managed through a single account, which only made matters worse.

Years later, following knee surgery in 2009, Francisco discovered that his fortune had nearly vanished. Unable to keep up with mortgage payments, his home was foreclosed. The irony of the situation cuts deep: what was once a life-changing windfall had disappeared at the hands of others. “I trusted blindly, and they ruined my life,” he said.

To put the loss in perspective: based on his old salary as a construction worker, it would take him 270 years to earn the same amount again.

After suing the bank three times, the courts eventually ruled partially in his favor. The court found that the bank had acted negligently in its role as financial advisor and ordered it to return $1.14 million USD to Guerrero and pay an additional $1.3 million in damages to his children.

However, neither the money nor the ruling can give Francisco Guerrero back the lost years or the peace of mind he once thought he had secured. “I thought I was doing the right thing,” he reflects. “Now I live with nothing but the harsh lesson that luck without knowledge can be a trap.”

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