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Asset managers accused of fronting for real $254M Powerball winner

Topic closed. 80 replies. Last post 5 years ago by haymaker.

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United States
United States
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April 5, 2008
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Posted: November 29, 2011, 12:29 pm - IP Logged

I think this was a good idea.....................some people with families don't want to be in the spotlight and have media people and people off the street knocking on their doors to do interviews or begging for money.  Some people also like to live a humble lifestyle even after a big win.......................

I think setting up a trust and letting businessmen claim it is a good idea

Big Wins For All!

    GiveFive's avatar - Lottery-026.jpg
    NY State
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    June 10, 2010
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    Posted: November 29, 2011, 12:31 pm - IP Logged

    IMHO, the theory of these 3 guys fronting for the real winner is very plausible.

    I'm curious as to wether or not the real winner initially approached them (as professional money managers) to manage his newly gained wealth for him/her, and did they subsequently float the idea to the real winner for them pose as the winners?

    Because it took approximately one month for them to surface, I don't believe these three professional money managers didn't discuss amongst themselves, the subject of them having their lawyer state only one of them purchased a one dollar QP ticket, and that it wouldn't be questioned. 

    Looking at it a different way, they're money pro's.  What money pro would form a "loosey-goosey" undocumented everyday/ordinary workplace lottery pool (that's typically formed by people who aren't professional money handlers), and only have a total of one dollar in the pool?  C'mon Man!

    About playing the lottery --  You will lose more than you win. Until you hit a jackpot.  Then everything changes!

      RJOh's avatar - chipmunk
      mid-Ohio
      United States
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      March 24, 2001
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      Posted: November 29, 2011, 12:44 pm - IP Logged

      Asset managers accused of fronting for real $254M Powerball winner

      Regardless of whether the winner was poor or rich before winning this jackpot, it was wise to get a lawyer and a money management team to front of him/her to make the claim.  He/She has avoided what Jack Whittaker of West Virgina went through when he claimed his PB jackpot in person with his family.

       * you don't need to buy more tickets, just buy a winning ticket * 
         
                   Evil Looking       


        United States
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        December 28, 2008
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        Posted: November 29, 2011, 12:46 pm - IP Logged

        Asset managers accused of fronting for real $254M Powerball winner

        Regardless of whether the winner was poor or rich before winning this jackpot, it was wise to get a lawyer and a money management team to front of him/her to make the claim.  He/She has avoided what Jack Whittaker of West Virgina went through when he claimed his PB jackpot in person with his family.

        Right you are!Thumbs Up

          s5thomps's avatar - Lottery-033.jpg
          Hard Luck, Ak
          United States
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          October 13, 2005
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          Posted: November 29, 2011, 12:50 pm - IP Logged

          Asset managers accused of fronting for real $254M Powerball winner

          Regardless of whether the winner was poor or rich before winning this jackpot, it was wise to get a lawyer and a money management team to front of him/her to make the claim.  He/She has avoided what Jack Whittaker of West Virgina went through when he claimed his PB jackpot in person with his family.

                          "DON'T HATE THE PLAYERS, HATE THE GAME!"

           Smart move on their part. Now they don't have to worry about all the sob stories and people begging for money.

                                                                                    I Agree!

          "We make a living by what you get, You make a LIFE by what you give!"

                                                                         Sir Winston ChurchillSun Smiley

            NoShame's avatar - Lottery-030.jpg
            Indiana
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            January 21, 2011
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            Posted: November 29, 2011, 12:57 pm - IP Logged

            It did seem unusual that an asset firm that won twice as much money in a lottery win than their workplace possesses would give most of that money away.  I mean they could've used that money to increase their business tenfold and then have enough money to get really charitable.  But then what do I know about how money works?  It makes sense now but I fear that taking back their original plans to donate the money to charities is going to come back and bite them.  The majority of the public will not take that news well.  Some might end up suing the firm and demand the lottery winner give the money to charity as originally promised.  It kinda sucks but one should never say they're going to give that money to charity and then take it back.  Things are going to get ugly.

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              nanaimo,bc
              Canada
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              June 21, 2010
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              Posted: November 29, 2011, 1:08 pm - IP Logged

              atleast the lost ticket mystery has been solved,good luck to the REAL winnerParty

                RJOh's avatar - chipmunk
                mid-Ohio
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                March 24, 2001
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                Posted: November 29, 2011, 1:08 pm - IP Logged

                It did seem unusual that an asset firm that won twice as much money in a lottery win than their workplace possesses would give most of that money away.  I mean they could've used that money to increase their business tenfold and then have enough money to get really charitable.  But then what do I know about how money works?  It makes sense now but I fear that taking back their original plans to donate the money to charities is going to come back and bite them.  The majority of the public will not take that news well.  Some might end up suing the firm and demand the lottery winner give the money to charity as originally promised.  It kinda sucks but one should never say they're going to give that money to charity and then take it back.  Things are going to get ugly.

                Some might end up suing the firm and demand the lottery winner give the money to charity as originally promised. 

                I don't recall anyone but the lawyer saying anything, the three money managers or their client didn't say anything.  Besides, what charity would they sue for except themselves?

                 * you don't need to buy more tickets, just buy a winning ticket * 
                   
                             Evil Looking       

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                  United States
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                  Posted: November 29, 2011, 1:08 pm - IP Logged

                  Why is this being spun as a negative thing?  I know a girl who won $3 million in the NJ lottery and she was hounded so much by people wanting her to buy products and services that she was sorry she won.

                  Why is a winner sometimes expected to give money to charity?  It's bad enough he/she has to give plenty to the charities called the U.S.Government and the State of Connecticutt.   Are the charities willing to reimburse him for all the lottery tickets he/she bought over the years to finally win?   I bet no one offered to give he/she money to play the lottery, but now that he/she is a winner, everyone would have had their hands out for a piece of the pie, but this winner is too smart for that!

                   

                  Congrats!

                    RJOh's avatar - chipmunk
                    mid-Ohio
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                    Posted: November 29, 2011, 1:10 pm - IP Logged

                    atleast the lost ticket mystery has been solved,good luck to the REAL winnerParty

                    There's one of those for almost any jackpot that goes a week without being claimed.

                     * you don't need to buy more tickets, just buy a winning ticket * 
                       
                                 Evil Looking       

                      dpoly1's avatar - driver
                      PA
                      United States
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                      October 16, 2008
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                      Posted: November 29, 2011, 1:11 pm - IP Logged

                      Why is this being spun as a negative thing?  I know a girl who won $3 million in the NJ lottery and she was hounded so much by people wanting her to buy products and services that she was sorry she won.

                      Why is a winner sometimes expected to give money to charity?  It's bad enough he/she has to give plenty to the charities called the U.S.Government and the State of Connecticutt.   Are the charities willing to reimburse him for all the lottery tickets he/she bought over the years to finally win?   I bet no one offered to give he/she money to play the lottery, but now that he/she is a winner, everyone would have had their hands out for a piece of the pie, but this winner is too smart for that!

                       

                      Congrats!

                      I Agree!

                        VAHopeful's avatar - winifrid
                        Virginia
                        United States
                        Member #116536
                        September 13, 2011
                        51 Posts
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                        Posted: November 29, 2011, 1:11 pm - IP Logged

                        IMHO, the theory of these 3 guys fronting for the real winner is very plausible.

                        I'm curious as to wether or not the real winner initially approached them (as professional money managers) to manage his newly gained wealth for him/her, and did they subsequently float the idea to the real winner for them pose as the winners?

                        Because it took approximately one month for them to surface, I don't believe these three professional money managers didn't discuss amongst themselves, the subject of them having their lawyer state only one of them purchased a one dollar QP ticket, and that it wouldn't be questioned. 

                        Looking at it a different way, they're money pro's.  What money pro would form a "loosey-goosey" undocumented everyday/ordinary workplace lottery pool (that's typically formed by people who aren't professional money handlers), and only have a total of one dollar in the pool?  C'mon Man!

                        I agree the theory of them fronting for the real winner is probably what happened, but, here's a scenario where they could have formed an impromptu pool: maybe they just pulled up to get gas, went in to get a drink or smokes or something, saw a lottery sign promoting how big the jackpot was, joked they should go in together to buy some tickets, but since they don't usually carry cash because they use their debit/credit cards for everything since it's much easier to track and receipt things, between them they only had less than $2 in change so they could only buy 1 ticket, since it was an impulse buy, they didn't think anything more about it until the next day when they heard someone won.

                          VAHopeful's avatar - winifrid
                          Virginia
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                          September 13, 2011
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                          Posted: November 29, 2011, 1:13 pm - IP Logged

                          Why is this being spun as a negative thing?  I know a girl who won $3 million in the NJ lottery and she was hounded so much by people wanting her to buy products and services that she was sorry she won.

                          Why is a winner sometimes expected to give money to charity?  It's bad enough he/she has to give plenty to the charities called the U.S.Government and the State of Connecticutt.   Are the charities willing to reimburse him for all the lottery tickets he/she bought over the years to finally win?   I bet no one offered to give he/she money to play the lottery, but now that he/she is a winner, everyone would have had their hands out for a piece of the pie, but this winner is too smart for that!

                           

                          Congrats!

                          I agree with you!

                            RJOh's avatar - chipmunk
                            mid-Ohio
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                            March 24, 2001
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                            Posted: November 29, 2011, 1:20 pm - IP Logged

                            There's not stopping beggars and people looking for handouts from hounding the money managers for money but they might look as silly as a person trying to make a redraw from a bank in which they have no account.

                             * you don't need to buy more tickets, just buy a winning ticket * 
                               
                                         Evil Looking       

                              cbr$'s avatar - maren
                              Cordova,Al.
                              United States
                              Member #104482
                              January 15, 2011
                              4911 Posts
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                              Posted: November 29, 2011, 1:50 pm - IP Logged

                              PartyNo Pity!I don't see anything wrong with the real winner wanting to remain anonymous. setting up a trust fund was a excellent way to go. These gentlemen were only respecting their clients wishes . without their help , the true winner wouldn't have been able to stay out of the limelight, now this person is hassle free. Congrat's to the true winner no matter who you are. The celebration is for the true winner , the violin is for any one who can't understand this wants to keep a private live!