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

Comment #80

haymaker — Fri, 02 Dec 2011 02:10:58 GMT

interesting,details ?

don't recall hearing about this,

but i do recall that N.H.is called tax-phobic. (hooray)

also,like their lic. plate slogan. live free or die

Comment #79

GYM RICE — Fri, 02 Dec 2011 01:54:17 GMT

In 2005, a New Hampshire State Senetor won just under 1 million dollars in the lottery. Imagine if he was allowed to claim anonyomous but people found out later. Wouldn't you second guess trusting the lottery? I know I would.

Comment #78

CashWinner$ — Thu, 01 Dec 2011 18:12:01 GMT

Man oh Man --- [and I quote] ---

It had been suggested that Davidson bought his ticket on November 1 and the following day they realised their numbers had come up, beating odds of 195,249,054 to one ...

Now Thems Some Odds - Jeeshhhh

Comment #77

Captain Lotto — Wed, 30 Nov 2011 18:10:23 GMT

I think the point to releasing the winner's info is so the public can be confident that the Lottery is operating as it should - awarding prizes to actual winners.

I understand why people would prefer to be private - but you are taking that risk when you choose to play.

Comment #76

zinniagirl — Wed, 30 Nov 2011 17:15:26 GMT

Does it really matter who the lucky person was that bought the ticket? I buy tickets for my neighbor twice a week because I work in one state and live in another. So the video camera would show my picture not my neighbor's picture. So you all would say the same thing about my neighbor. He didn't buy the ticket, he must be covering for someone.

The prize has been claimed. The Lottery and the IRS are satisfied. They are the only ones that matter. My congratulations to the three claimants. Whet... [ More ]

Comment #75

rdgrnr — Wed, 30 Nov 2011 17:01:42 GMT

Hey golfer,

Thank you for your kind words.

Without going into all the minutia before all the facts are out, I would just say that everybody loves a good conspiracy and that I just don't happen to believe there is one here. Everyone else does. I think Mr Davidson bought the single-line ticket and quite possibly multiple single-line tickets for him and his buddies. I don't think it's any more complicated than that.

The only way this will be settled is if the picture of the guy buying the... [ More ]

Comment #74

joshuacloak — Wed, 30 Nov 2011 12:56:24 GMT

they just came out and admited a key trust detail

they are the only 3 Trustees

anyone who knows ever thing about trusts, would now know, Yes, in legal world, the trust won, and as only 3 Trustees the claim they made of them being the only 3 winners, is in legal speaking, True

in reality, Who the bloody f is the Beneficiaries, that is real winner

The trustees are the legal owners of the trust's property. The trustees administer the affairs attendant to the trust. The trust's aff... [ More ]

Comment #73

kapla — Wed, 30 Nov 2011 10:08:12 GMT

It would be REALLY funny if another CT winner went to those guys and asked them to do the same thing again for them!! Another press conference with them showing up saying they won, THAT would be funny

Comment #72

golfer1960 — Wed, 30 Nov 2011 05:48:18 GMT

Hello rdgrnr,

I'm a long time reader of Lottery Post but a first time poster. I really enjoy reading your post. They are full of humor and common sense.

My girlfriend and I were reading this story and came up with another twist. What do you think?

1. Is it true that when you claim the ticket anonymusly under a trust, that the lottery and IRS know the name and SS# of the real winner even though the public doesn't? If so, we feel the real winner is someone who didn't want the IRS and lott... [ More ]

Comment #71

rdgrnr — Wed, 30 Nov 2011 05:08:23 GMT

There was nothing to see through. One guy bought a ticket and split it with his buddies.

Just because a scenario can accommodate a given conspiracy doesn't automatically mean it is.

Comment #70

Simba774 — Wed, 30 Nov 2011 04:29:40 GMT

I agree. Who cares who the ticket belongs to?! It's not like this money is going to pay any of our bills. None of us didn't win. Let's move on.

Comment #69

mightwin — Wed, 30 Nov 2011 02:41:50 GMT

Yeah somethin aint right, but on a differrent note lets hope mega takes off like it did a year ago and we get to see a record jackpot for the new year.............come on mega

Comment #68

jeffrey — Wed, 30 Nov 2011 01:33:36 GMT

will they take the money and run? they look like they could use the exercise.

Comment #67

freeobama — Wed, 30 Nov 2011 01:32:46 GMT

The 3 asset managers stated that there are no secret lottery winner,they are the only three trustees of the jackpot. They plan on donating $1 million to a charity to help veterans and turning $100 million into $400 million.

Comment #66

TheRightPrice — Wed, 30 Nov 2011 01:19:26 GMT

lol

Comment #65

freeobama — Wed, 30 Nov 2011 01:09:24 GMT

The 3 asset managers do not have to give the real winner a penny since they claimed the jackpot

Comment #64

NY216 — Wed, 30 Nov 2011 00:34:36 GMT

I support what the real winner did. I already have official plans set up if I win a jackpot as I don't want anyone knowing I won. I will do whatever it takes to protect my identity privacy.

Comment #63

mrbg — Wed, 30 Nov 2011 00:27:39 GMT

Congrats

Comment #62

weshar75 — Wed, 30 Nov 2011 00:24:12 GMT

To whomever won the lottery congrats and enjoy the money. Which is why they probably had the trust set up for them. Nice win! Their is always another jackpot to win.-weshar75

Comment #61

grwurston — Wed, 30 Nov 2011 00:23:12 GMT

Now that this has come out, I think a lot of other future winners will now be doing the same thing. I know I will. (so much for my anomynity) lol. But I would have done it anyway.

If the lotteries would give winners the option to remain anomymous, this would not happen. But with a lot of people looking for hand-outs or an easy payday, and the litigious world we live in nowadays, unfortunately people are left with no choice but to try to remain anomymous. Which should be their right.

Whethe... [ More ]

Comment #60

Coin Toss — Tue, 29 Nov 2011 23:22:06 GMT

Mario38,

Your post + the rules copied in your sig,

No Personal Attacks

Criticize ideas, not people. Flaming will not be tolerated. This includes any material which is vulgar, defamatory, inaccurate, harassing, hateful, threatening, invading of others privacy, sexually oriented, or violates any laws.

Do not pad your signature with extra blank lines.

Putting blank lines in your signature will not make it more noticeable. It will make it annoying.

= OH THE IRONY.

Or is it sim... [ More ]

Comment #59

nickey t — Tue, 29 Nov 2011 23:12:31 GMT

TOM GLADSTONE --- THAT'S THE REASON ONE DOES NOT GO PUBLIC .. HE WAS SO QUICK TO TELL THE TRUTH ON BEHALF OF THE 'FAMILY FRIEND' .... WOW ... EVERY STATE HAS THE FINE PRINT THAT SAYS A PERSON CAN CLAIM WITH A TRUST/ESTATE AND HE JUST HAPPENED TO READ IT AND NOT GET PUNKED BY THE PRESS CONFERENCE JUNKIES ..

Comment #58

myturn — Tue, 29 Nov 2011 22:46:21 GMT

Many winners, understandably, don't want their identity revealed. If I won a large sum in a US lottery I would be contacting a good reputable lawyer to help me maintain anonymity. Lotteries winners in Australia and the UK have the right to anonymity, most people support their right to anonymity, as they would like the same option if they won.

State Governments in the US should legislate to give lottery winners the right to anonymity.

Write to your Governor

Comment #57

gra8*2win — Tue, 29 Nov 2011 22:44:47 GMT

Inside Addition just aired this story and and they interviewed the store clerk who sold the winning ticket.....and one

of the 3 men claiming the money is the man who purchased the single ticket......he is in that store on a regular

basis... so he is trying to camoflouge himself i believe...... but i don't blame him it will stop alot of non-sense before

it gets started....

Comment #56

GYM RICE — Tue, 29 Nov 2011 22:02:27 GMT

The last thing I would want to become public record is that 3 lawyers hired by me won MY large jackpot. The whole world would think these three guys are the winners. To me that gives the lawyers way to much leverage if they decide to steal your millions down the road. Just confusing the whole situation. I wouldn't doubt it if the guy who won got some more advice and was told that you better get the real story out there.

Not only that but didn't the Conn/lawyers now bring even more attent... [ More ]

Comment #55

rdgrnr — Tue, 29 Nov 2011 22:01:19 GMT

Woooo hoooo!

Comeback of the year!

Thanks Todd.

Comment #54

tiggs95 — Tue, 29 Nov 2011 21:51:52 GMT

Nice ridge...Sweet...hee hee hee yah gotta love those liberals when they think they got something on yah..When left wing nutjob zigg the right ringers zagg!!!!..

Comment #53

faber98 — Tue, 29 Nov 2011 21:47:23 GMT

sorry ridge, but it isn't like you not to have seen through this from the beginning. you are too astute to believe 3 investment bankers split a 1.00 ticket. come on. nice to see you are back on your game.

Comment #52

TheRightPrice — Tue, 29 Nov 2011 21:47:05 GMT

Folks, let it go.

Somebody won. Somebody doesn't want their life ruined by going public.

I'm sure everyone agrees. When you win the Lotto, you decide for yourself how you want to handle your money.

Winning the Lotto is supposed to be a good thing, but in today's day and age it's a dangerous thing.

Comment #51

rdgrnr — Tue, 29 Nov 2011 21:42:01 GMT

Let me know if you prefer Crow or Humble Pie when the time comes.

You're believing exactly what they want you to believe. They didn't become successful by being big dummies.

There's no pressure on them now because they have everybody believing it's not their money. Nobody's gonna bother them about it - they're just managing it.

I'm sure they appreciate your cooperation.

Now get back to wondering who the real winner is.

Just like they know you will.... [ More ]

Comment #50

rdgrnr — Tue, 29 Nov 2011 21:27:30 GMT

Louise! I'm shocked and appalled at your piling on like that!

I would have never expected that from you!

Bad Weezy! Bad

Comment #49

rdgrnr — Tue, 29 Nov 2011 21:23:52 GMT

I'm glad I could provide something to cheer your liberal ass up after the tragic news of Bawney Fwank retiring.

Comment #48

Win$500Quick — Tue, 29 Nov 2011 20:39:30 GMT

If it doesn't make sense, it's not true

Comment #47

Captain Lotto — Tue, 29 Nov 2011 20:31:55 GMT

You can subtract your losses in a given year from your winnings, if you have the proof.

Comment #46

TheOtherOne — Tue, 29 Nov 2011 20:22:17 GMT

Well yeah of course he's rich--254 Million rich! Lol

All I know is when I saw these 3 asset managers on the news I thought to myself don't they know better than to put their own faces with this money? Why not set up a trust?

So congrats to the real winner(s). I'm going to do the same thing when I win next year.

Comment #45

HiFi — Tue, 29 Nov 2011 19:03:31 GMT

well i can tell you this, those 3 asset managers wouldnt be doing him this big favor of accepting the check if he was some small time client. this guy is rich, probably really rich. i would have liked to see someone with much less win, oh well.

Comment #44

cbr$ — Tue, 29 Nov 2011 18:50:25 GMT

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... [ More ]

Comment #43

RJOh — Tue, 29 Nov 2011 18:20:37 GMT

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.

Comment #42

VAHopeful — Tue, 29 Nov 2011 18:13:23 GMT

I agree with you

Comment #41

VAHopeful — Tue, 29 Nov 2011 18:11:58 GMT

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, betw... [ More ]

Comment #40

dpoly1 — Tue, 29 Nov 2011 18:11:04 GMT

Comment #39

RJOh — Tue, 29 Nov 2011 18:10:58 GMT

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

Comment #38

jacal5 — Tue, 29 Nov 2011 18:08:52 GMT

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... [ More ]

Comment #37

RJOh — Tue, 29 Nov 2011 18:08:42 GMT

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

Comment #36

nanaimo — Tue, 29 Nov 2011 18:08:04 GMT

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

Comment #35

NoShame — Tue, 29 Nov 2011 17:57:10 GMT

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 ta... [ More ]

Comment #34

s5thomps — Tue, 29 Nov 2011 17:50:03 GMT

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.

Comment #33

louise black — Tue, 29 Nov 2011 17:46:20 GMT

Right you are

Comment #32

RJOh — Tue, 29 Nov 2011 17:44:32 GMT

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.

Comment #31

GiveFive — Tue, 29 Nov 2011 17:31:02 GMT

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 th... [ More ]

Comment #30

Keystone — Tue, 29 Nov 2011 17:29:55 GMT

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

Comment #29

Todd — Tue, 29 Nov 2011 17:28:56 GMT

Well, normally that logic is flawless.

Comment #28

Mario38 — Tue, 29 Nov 2011 17:20:45 GMT

He made the wrong assessment because he automatically took the opposite view of mine. I first announced the 3 investment advisers were probably acting as a front and rdgrnr disagreed immediately never wanting to appear to agree with me.

Comment #27

louise black — Tue, 29 Nov 2011 17:00:16 GMT

Yeh, rdgrnr did fall for it hook ,line and pole.

Comment #26

faber98 — Tue, 29 Nov 2011 16:57:05 GMT

the best thing about this is that rdgrnnr was wrong in his assessment yesterday. the know it all from the appalachians actually believed these frauds.

Comment #25

louise black — Tue, 29 Nov 2011 16:53:49 GMT

Yeh, who cares but it did prove a point that there something wrong with this story, it wasn't adding up! Good Enough! I will do the same when my ticket come in , but i will give to worthy causes.

Comment #24

ChaosX — Tue, 29 Nov 2011 16:50:19 GMT

I liked the story when it was about 3 people paying 33.333 cents a piece to split a QP ticket instead.

Comment #23

patwins — Tue, 29 Nov 2011 16:42:44 GMT

I think it's smart to keep your identity private. It's also smart to create an entity to manage the money.

I don't see a story here - it looks like the lottery officials and the journalist took the low road.

Comment #22

louise black — Tue, 29 Nov 2011 16:42:41 GMT

Comment #21

Coin Toss — Tue, 29 Nov 2011 16:16:46 GMT

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

Otherwise known as sending in a beard.

Looks like these guys and the winner formed their own Jackpot Winner Protectin Program.

I say good for them.

Comment #20

hearsetrax — Tue, 29 Nov 2011 15:47:25 GMT

@ the Real winner and bless him/her/them ...... who cares who

Comment #19

VAHopeful — Tue, 29 Nov 2011 15:46:28 GMT

Welp, that would answer my question as to why they formed a trust but still showed for the press conference. Can't blame the winner at all for the ruse.

Comment #18

dpoly1 — Tue, 29 Nov 2011 15:27:15 GMT

Time for PA to get our 1st Mega Millions win.

I will just hide after I claim the jackpot

Comment #17

Captain Lotto — Tue, 29 Nov 2011 15:26:25 GMT

I think they should have told the truth. Just tell us you represent the winner. Big deal.

Many have formed trusts - we understand that's to protect the identity of the winners. They succeeded in bringing more scrutiny to the win and raising questions about their integrity.

Comment #16

dpoly1 — Tue, 29 Nov 2011 15:22:21 GMT

Oh no ........... investment for personal gain ........................ how shocking!

If it weren't for the Greed of Envy Crowd like Occupy , you wouldn't have to worry about coming forward

Comment #15

sully16 — Tue, 29 Nov 2011 15:12:01 GMT

Congrats to the winners.

Comment #14

PERDUE — Tue, 29 Nov 2011 14:26:51 GMT

Who gives a SH*T about who won or cashed in this fu*king ticket!!!!!

Fact: The DA*N ticket has finally been cashed in!!

Reality: Move on the the next drawing and move on with your lives.

I am so tired of the media making a big hoopla about this fricking ticket!!

Be honest, Do you REALLY care about who won?

I'm just thrilled that the ticket has been cashed and the jackpot won't be rolled back into the system .

GOOD GRAVY, give it a rest.

If anything, start fraudulent claims c... [ More ]

Comment #13

Starr920 — Tue, 29 Nov 2011 14:01:36 GMT

IMHO, GMA put that spin on the story to appeal to people who don't like to see a rich person win the lottery. When I heard the word illegal I went straight to CT website and the answer was right there for all to see. Nothing illegal about it I'm sure GMA has enough interns on staff who could have done the same thing.

Now if the winner had been that garbage man or the 21 year old kid who claimed they lost the ticket, I'm pretty sure GMA would have done a feel good story on how great it is to s... [ More ]

Comment #12

imash85 — Tue, 29 Nov 2011 13:56:24 GMT

Good for the real winner. Very smart.

Comment #11

savagegoose — Tue, 29 Nov 2011 13:51:31 GMT

hey that extra penny is now worth $1.04 million dollars.

Comment #10

joshuacloak — Tue, 29 Nov 2011 13:32:51 GMT

GMA has no grounds. todd is right.

am sure its classic, assumption is mother of all f-ups

some dumb reporter,

the fact is trust, claimed, its Only winner to public face

the trust claimed, their was no law broken, lawyer acts as winner , claiming for trust, NO laws was ever broken.

The Three Musketeers, showed up to fool us, as they are managing real winners money, they can be said in a legal way to be fall guys.

the 3 wealth asset managers The Three Musketeers , met r... [ More ]

Comment #9

GiveFive — Tue, 29 Nov 2011 13:31:41 GMT

Yeah, it does sound kinda fishy that 3 guys split a $1.00 dollar QP.

My question is; how did they decide amongst themselves which one of 'em wuz gonna have to pony up the extra penny?

The whole thing is super-smart if ya ask me. Merry Christmas now baby

Comment #8

Todd — Tue, 29 Nov 2011 13:19:19 GMT

OK, I thought when you said ...they are covering up for the real winner which IS ILLEGAL that you were saying it is illegal.

I'm not sure what grounds GMA would have to say that claiming a jackpot for another person is illegal. It's been done hundreds, maybe thousands, of times, in order to get around the lotteries' insistence that winners be made public.

Comment #7

TheRightPrice — Tue, 29 Nov 2011 13:14:41 GMT

I did not say it was Illegal. I don't se how it is. BUT GMA is reporting that is Illegal. I have GMA on now and if they repeat the story I'll pay closer attention as why it is illegal.

Oh yeah, I agree with you, whether money is donated to charity or not is irrelevant. I'm just reporting what the GMA story said.

Comment #6

Todd — Tue, 29 Nov 2011 13:12:13 GMT

I don't think there's anything illegal about it whatsoever. Maybe you could ellaborate on what law was broken?

Whether or not someone decides to donate some of their money is their own personal choice. It does not make a person good or bad to donate money (or not). It is a voluntary act, as it should be.

Comment #5

Kidzmom — Tue, 29 Nov 2011 13:11:40 GMT

This is too funny....

Comment #4

TheRightPrice — Tue, 29 Nov 2011 13:08:32 GMT

According to Good Morning America, a source close to one of the 3 men is saying that the 3 men are not the real winners and they are covering up for the real winner which IS ILLEGAL.

This source also says that the winner has no intention of donating money to charity.

Here's my opinion folks, It's the Lottery's fault. With such a huge amount of cash involved, anonymity is essential for safety and people wouldn't have to come up with such elaborate schemes to claim their prize.... [ More ]

Comment #3

Slick Nick — Tue, 29 Nov 2011 13:04:09 GMT

From the beginning I thought this was a fishy story about the winners, etc.. I found it odd that 3 people would buy just one ticket. Usually people buy a few tickets. With a bit of humor, their total investment would have been 33 1/3 cents apiece. I wonder how they made that 1 penny into thirds

Comment #2

Starr920 — Tue, 29 Nov 2011 12:59:35 GMT

What a hoot this one turned out to be - smart move by Mr. Anonymous. So the Belpointe Group weren't the real winners - who cares - they now have over $100 million to manage for the real winner. It is what it is folks - I say more power to them

From Connecticut Lottery Website:

Certain information regarding our winners is published and made available. The Lottery will publish and upon request, make available a winner's name, city or town of residence, date and amount of win and the name/loc... [ More ]

Comment #1

joshuacloak — Tue, 29 Nov 2011 12:49:48 GMT

i even posted a thing in many what if threads on lottery post about such a event , before it even happened

the thread was don't trust lottery winner press conference ,

https://www.lotterypost.com/thread/236325/2218953

funny thing, i had my idea's on this one,

like name my trust, mexican investments inc trust, or whatever

hire some decent stand in, who lips are sealed acter

who is a mexican, ofc he be a husky guy wearing a sombrero hat, giant sun glass's, and a fak... [ More ]

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

Lottery Post — Tue, 29 Nov 2011 12:46:33 GMT

For three men who had apparently just won $254 million they looked far from ecstatic.

And last night the three wealthy bankers who came forward to claim a record Powerball jackpot were facing claims that they were not in fact the real winners.

An anonymous man one of their clients is said to have actually purchased the ticket but came to the trio to avoid the 'hassle' of his name becoming public.

They then allegedly set up a trust 'as a front' so that Tim Davidson, Brandon Lacoff, and G... [ More ]