National Lottery winner Michael Carroll will be completely broke in 12 months, according to his biographer.
Michael Carroll is nearly broke according to his biographer
The dustman from King's Lynn, Norfolk, won £9.7m in November 2002 but writer Sean Boru said he had cashed in most of his investments.
He has now had to take out a mortgage to raise cash to start a business.
Mr Boru said: "He has actually got no cash assets at all. He has actually blown the lot. People did advise him, but he doesn't take advice."
In February, Carroll was jailed for nine months after a court heard how he threatened teenagers with a baseball bat but is now out of jail.
Carroll, who has homes in Downham Market and Swaffham, Norfolk, had admitted affray - at a concert in Downham Market in May 2004 - during a previous hearing at Norwich Crown Court.