Want to become a millionaire without actually working for it, or winning the lotto? Sure, you say. Who wouldn’t? Well then, I have got a plan for you. Check it out.
Step 1: Get falsely accused and convicted of a crime in Texas. Just a tip, make sure it’s not a death penalty case. You may end up getting executed.
Step 2: Spend a good part of your life in TDC.
Step 3: Get the Innocence Project to get your conviction overturned.
Step 4: Here’s where it’s all worth it, time to cash in! As Texas provides the most compensation in the country to people who have been wrongfully convicted of crimes.
Here’s the story that caught my eye this morning on the topic.
Exonerees to be millionairesBy JEFF CARLTON
Associated Press
DALLAS — Thomas McGowan’s journey from prison to prosperity is about to culminate in $1.8 million, and he knows just how to spend it: on a house with three bedrooms, stainless steel kitchen appliances and a washer and dryer.
“I’ll let my girlfriend pick out the rest,” said McGowan, who was exonerated last year based on DNA evidence after spending nearly 23 years in prison for rape and robbery.
He and other exonerees in Texas, which leads the nation in freeing the wrongly convicted, soon will become instant millionaires under a new state law that took effect this week.
The annuity payments are especially popular among exonerees, who acknowledge their lack of experience in managing personal finances. A social worker who meets with the exonerees is setting them up with financial advisers and has led discussions alerting them to swindlers.
The annuities are “a way to guarantee these guys … payments for life as long as they follow the law,” said Kevin Glasheen, a Lubbock attorney representing a dozen exonerees.
Two who served about 26 years in prison for rape will receive lump sums of about $2 million apiece. Another, Steven Phillips, who spent about 24 years in prison for sexual assault and burglary, will get about $1.9 million.
The biggest compensation package will likely go to James Woodard, who spent more than 27 years in prison for a 1980 murder that DNA testing later showed he did not commit. He eventually could receive nearly $2.2 million but first needs a writ from the state’s Court of Criminal Appeals or a pardon from the governor.
Maybe it’s just me, but I did not like the tone of the article one bit. It reads like the author is writing about some guys who won the lotto and these guys are lucky to get anything from the state. These are guys who lost years of their lives, probably the best years, to a system that is supposed to protect the innocent. And the AP words the story as life these guys have hit the jackpot and are set for life.
First off, 2.2 million bucks isn’t that much. Not what it used to be at least. It might be enough for me to retire on if I went somewhere with a good exchange rate. But how do you put a price on losing 27 years of your life? The headline is misleading as it is. Yes, some of the exonerees will become millionaires. But at a payout of 80K a year, you’d have to be wrongfully imprisoned for 12.5 years to become a millionaire.
And if you asked Mr. McGowan what he’d rather have, $1.8 million or 23 years of his life, I can say with 99% certainly that he’d say those 23 years. The State of Texas is getting off cheap.