1993: Chicago Bulls fan Don Calhoun makes a 75 foot shot that wins him $1 million dollars. (source)
The insurance company that was required to make the payoff, American Hole 'N One Inc, voided the payment when they discovered that three years earlier, Calhoun played basketball for a junior college (a fact he disclosed and the Bulls did not have an issue with), and said it was a violation of the rules. Fortunately, the sponsors of the event and the Chicago Bulls pledged to cover the prize if the insurance company would not. As a result, Calhoun got $50,000 a year over the next 20 years.
One lasting impact was that Mr. Calhoun was able to use the winnings to help his son, Dr. Clarence Calhoun II, go to medical school.