The recent life and death of a jury award recipient is a tragic but sobering reminder of how lump sum awards or settlements can be squandered.  was a homeless man when an 18-wheel truck ran over his legs.

An attorney, Gary Casselman, heard his plight and represented him in court. Schulman was awarded almost $700,000 ($350,000 after attorney fees and expenses) for his injuries. He then went on a shopping spree that included two Corvettes, flat screen TVs, sports memorabilia and dining at expensive sushi restaurants.

The LA Times reports:

“Steven Schulman, the man who made his way from skid row to winning a huge cash verdict after being run over by a semi, was found dead Tuesday. The 55-year-old was discovered in his Van Nuys apartment among several empty bottles of malt liquor.”

An alcoholic before he was injured, his health deteriorated as his drinking worsened. In less than a year, he had spent over $200,000 of the $350,000 and soon after, he was dead.

His story appeared in an August 15 article in the L.A. Times.

To access the story, go to http://www.latimes.com/news/local/la-me-rags-to-riches-20100818,0,6926110.story