'Lotto rat's' luxury lifestyle revealed as $16.6m legal fight finally settled

After pocketing $16.6 million in Powerball winnings, “Lotto rat” Gary Baron traded in his courier truck for a BMW M4 worth $200,000.

The overnight Victorian millionaire quickly quit his job as a truck driver, bought the luxury car as well as a $600,000 house, keeping his former colleagues and lotto syndicate teammates in the dark about his new found fortune.

The news of how the multi-millionaire spent his winnings comes just days after 14 disgruntled former colleagues reportedly reached an undisclosed agreement after taking legal action against Mr Baron.

They claimed they were deprived of their rightful millions, however it was Mr Baron who maintained that the winning ticket was purchased with his own money rather than with syndicate money.

Gary Baron has reportedly reached an agreement with his former colleagues. Source: 7 News
Since winning the Powerball in 2014, he purchased a $200,000 BMW M4 convertible like this one. Source: Getty Images
He quit his job as a truck driver for Toll and began his life of luxury. Source: Toll

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Keen to maintain a low profile and commence his life of luxury with suspected girlfriend and former colleague, Janette McConnell, Mr Baron reportedly asked Tatts Lotto to remain anonymous.

However, the group became suspicious of Mr Baron after he started behaving strangely shortly after three winners across Australia shared in a $50 million jackpot in October, 2014.

Without naming Mr Baron, Tattersalls released a statement to share the story of a Victorian man winning $16.6 million dollars.

“I’m still in disbelief ... I don’t need that amount of money, it’s too much for me,” the prizewinner told a Tatts official.

His former colleagues became suspicious when he quit his job and quickly purchased a $600,000 house.

“I’m going to share the prize money with my family. I’ll make sure it doesn’t change who I am, but I’ll definitely be able to live a better lifestyle, with a few more toys.

“I love being out on the water so I’ll buy myself a boat and a jet ski, and my kids have been wanting the new iPhone 6 so they can have that now, and I might spoil them each with a new car.”

It's unclear what kind of agreement the parties reached, but the matter is scheduled to return to court on Thursday for final orders.