California man says he's waited nine weeks for $44 million Powerball lottery jackpot payout

Comment #34

noise-gate — Tue, 26 Nov 2024 04:35:31 GMT

* Jerry got paid out 2 weeks ago. He was cut a check for $17mil after taxes.

Comment #33

PrisonerSix — Tue, 05 Nov 2024 23:58:33 GMT

This is very strange. I know that MUSL has to collect the sales from the participating states and then send the prize money to the state which sold the winning ticket. With money being sent electronically these days, it shouldn't take this long.

Hopefully this will be resolved soon and he will have his winnings.

Comment #32

billybucks — Tue, 05 Nov 2024 13:48:02 GMT

I would rather win it and wait for weeks than not win it at all. Just the confirmed knowledge that you won would be enough to get a short term loan if you needed the money that bad. Patience is a virtue. However, if they are holding it to get interest on your money for another month or two that should be investigated.

Comment #31

DELotteryPlyr — Tue, 05 Nov 2024 11:07:31 GMT

The missing part to all of this is - we dont know what the state is 'doing' and why its taking so long. There could be any number of issues, with the winner, that slowed the states investigation. Maybe he had someone buy/pick up his tickets that day? So the video would not show him buying them? Maybe the store doesn't have camera's and they had to subpoena other busyness's outside camera's. Maybe he has issues that the state needs to work through - child support, proof of who he is ect. What if... [ More ]

Comment #30

KY Floyd — Tue, 05 Nov 2024 06:29:09 GMT

I think the most important question here is if the state lottery receives interest on the amount while it's in their accounts.

You don't think they put the money in the bank or a brokerage account an hoe not to lose any of it, do you? If you choose the annuity the funds are invested on government securities because they're about the safest investment available. Treasury bills mature in as little as 4 weeks, and are available for auction weekly, so figure that would require tying the money u... [ More ]

Comment #29

Justing618 — Tue, 05 Nov 2024 05:13:28 GMT

So how do we figure out which one is a crook

Comment #28

SoCola — Mon, 04 Nov 2024 19:04:55 GMT

In the US we're generally opposed to other people deciding they know what's best for us, especially when they're collecting interest on my money instead of me. I'll take my interest and consequences, keep your cooling off period.

Comment #27

dannyct — Mon, 04 Nov 2024 15:36:41 GMT

I believe there should be a cooling off period for jackpots. With the excitement of a massive win, many winners can make impulsive decisions that they may come to regret. The UK National Lottery offers winners financial advice, along with the right to anonymity, which is very helpful for people with newfound wealth. All lotteries should offer similar advice.

Comment #26

CDanaT — Mon, 04 Nov 2024 15:24:50 GMT

Justing, there will always be a few lawyers that are on that level. Remember, there is a lid for every trash can. Here is an option for your consideration; https://www.lotterylawyercpa.com/lottery-winner-accountant/

It does appear that CA likes to hold onto their lottery money. That background package is a bit of a ploy. However the article is clear on not knowing the exact date for filing the claim. Still, 15-30 calender days seems long enough to clear any type of IOU to all state agencies... [ More ]

Comment #25

JohnGalt3 — Mon, 04 Nov 2024 14:51:16 GMT

I live in a Red State and won a lottery. I was paid in 2 hours.

California is a Blue State and is a bureaucratic nightmare. If you like Communism by all means live there.

Buyer beware

Comment #24

Artist77 — Mon, 04 Nov 2024 13:54:01 GMT

But of course other professions do not steal.

Comment #23

Ranett — Mon, 04 Nov 2024 13:26:14 GMT

Sounds boring

Comment #22

Justing618 — Mon, 04 Nov 2024 06:36:32 GMT

Your correct. Everyone must have forgot about the lottery lawyer . He's now in federal prison......

Comment #21

Powerball765 — Mon, 04 Nov 2024 00:32:06 GMT

l was thinking of buying lottery tickets in California but not anymore will have to keep my old job for 12 months before l say l quit Crazy

Comment #20

Powerball765 — Sun, 03 Nov 2024 18:58:59 GMT

This is a warning to everyone Don't quit your Day Job after winning the lottery just wait till you get Paid. Before am worried about Illinois iou now am worried about California iou too

Comment #19

THRIFTY — Sun, 03 Nov 2024 16:06:19 GMT

We are going to live in a deflationary economy in the coming years. Technology will keep making things cheaper. We might not need money survive, therefore playing lottery games would be useless.

Comment #18

Bleudog101 — Sun, 03 Nov 2024 15:35:33 GMT

don't think it would help, but if there was a TV station in Sacramento that does investigative reporting, it would @ least bring to light what is happening.

Grant it, California being so large and many lottery offices, something still awry to me. With this electronic age settlement should be much quicker.

If someone could get their IG involved in this debacle, maybe the complacent attitude could get adjusted. May take the almighty pen in their legislature to mandate how long i... [ More ]

Comment #17

Wavepack — Sun, 03 Nov 2024 13:39:23 GMT

10% penalty interest, just like the IRS penalty interest. Starting after 4 weeks, which is more than enough time to settle a jackpot payment.

If you have only market interest, there still is no incentive to pay the jackpot in a timely manner (ie, they break even no matter how long the delay

Comment #16

poolshooter4 — Sun, 03 Nov 2024 03:21:01 GMT

All I'm seeing is the lottery looking for a reason not to pay....., shame on you lottery commission

Comment #15

CHLOE$76 — Sun, 03 Nov 2024 02:48:48 GMT

Attorneys be stealing

Comment #14

CHLOE$76 — Sun, 03 Nov 2024 02:48:15 GMT

In Georgia..you can get some in 24 hours, then some in 8 days, then some in 14 days, etc...im no opposed to them getting and making sure he the winner..there are a lot of scams out there..but I do know they have forensics at the headquarters and they can find out if you purchased your tickets..my friend wasted cologne on one of her tickets..she played a number ten times straight and cologne got on two of them..she had to FedEx in and let forensics do their job..it took six months and they determ... [ More ]

Comment #13

shy1979 — Sat, 02 Nov 2024 23:38:49 GMT

Newsweek puts out a best lawyers/law firms in America each year for each law practice category. I would start there and see if any of the top firms under the category of private client or estate management are in your city, or in the city you want to move to. I think Time magazine might do some similar.

The August $44.3 million Powerball win would be a deposit of $16.7 million ($21.9 cash value minus the $5.2 in federal taxes automatically taken out). My Fidelity brokerage account pays 4.5

Comment #12

SoCola — Sat, 02 Nov 2024 22:52:16 GMT

Morgan Stanley and the like have wealth managers unless you just already know one you like. But I'd choose one experienced and unimpressed with millions of dollars personally. i don't think the real issue is getting money in the mean time. The issue is how freaking long it takes California to pay out and the money you're losing on interest during that time.

This one is 9 weeks and at the most conservative investment with that is $12k a week loss. On another they took 5 months. On a big... [ More ]

Comment #11

cottoneyedjoe — Sat, 02 Nov 2024 22:48:31 GMT

I also believe the CA lottery purposely drags its feet in paying out winners simply to collect more interest. Carolyn Becker is acting like CA is special and unique in the fact that it performs background checks, but all states do that, and they still manage to pay in less than half the time it takes CA. 9 weeks is plenty of time to determine if Jerry owes child support or whatever. He should get a lawyer at this point.

Comment #10

shy1979 — Sat, 02 Nov 2024 22:16:30 GMT

I was typing this as a reply, but I think the original comment got deleted as I was typing this. I'll post it anyway.

You re 100% correct in stating that a private bank like Morgan Stanley (or other similar) is your best bet. But I would also have my estate/wealth manager set that up as they would have much better contacts than me just randomly contacting a bank out of the blue.

Keep in mind that that this discussion only started as a need to get $10k-$15k to tide you over until yo... [ More ]

Comment #9

SoCola — Sat, 02 Nov 2024 21:34:30 GMT

Texas handbook says the payment for mega millions is processed 4 days after the claim date. They have the whole process of claim online and seeing if any debts are owed is a click of a button. So unless a claimant can't provide any useful info about purchasing the ticket and there's no video wth is the lottery doing for weeks and why?

I think the most important question here is if the state lottery receives interest on the amount while it's in their accounts.

Comment #8

shy1979 — Sat, 02 Nov 2024 21:07:45 GMT

If you need cash quick, I'm sure there are numerous ways to get it from your regular bank; loans, lines or credit, new credit cards, mortgage refinance, etc., especially if you're a long term client in good standing. All without telling them you're a lottery winner.

I'll disagree with you on a pic of you with a giant check is proof of a win. Google custom printed giant check and you'll find many companies can do that. But, it may be easier just to photoshop yourself into another winners pic.... [ More ]

Comment #7

billybucks — Sat, 02 Nov 2024 20:32:37 GMT

Isn't it about 99 44/100th% sure when they take that picture of you with the big check when you first go in to claim it that you won. There may be some child support taken out or something or back taxes. I get you don't actually get the money that day but most have a bank account and if you asked nicely for an extended line of credit or a major overdraft increase I would think they would oblige or risking losing you as a customer.

Comment #6

shy1979 — Sat, 02 Nov 2024 20:10:54 GMT

You can ask for a down payment of maybe 10k-15k to tide you over. They may refuse that so just go to a bank and they will loan you all the money you want at probably a very low interest rate. Probably zero if you promise to deposit a huge chunk with them after it clears.

This might be a hard sell to a bank as you probably won t be able to convince them you re a legit lottery winner who hasn t been paid by the lottery yet. I also hope he's not planing to deposit $16 million into a Wells... [ More ]

Comment #5

shy1979 — Sat, 02 Nov 2024 19:51:45 GMT

Sounds like California Lottery is making the process super complicated.

I live in Colorado and here are the Powerball regulations for my state:

14.A.6 Payment of Prizes A. - Grand Prizes shall be paid at the election of the Ticket Holder either by a single cash payment or in a series of annuity payments. The Ticket Holder becomes entitled to the Prize at the time the Prize is validated as a Prize Winner. However, the Grand Prize is paid by the Lottery upon receipt of funds from MUSL no e... [ More ]

Comment #4

SoCola — Sat, 02 Nov 2024 15:36:16 GMT

If every other state can do it in 14 days California is complicating the process because they like to get in their own way about everything. Or they're collecting their own interest while it sits in their account.

personally I think anyone who wins here should also sue and file for the lost interest for however long after 14 days it takes them to payout. A few of those and California lottery will suddenly find a way to become more efficient or hire the appropriate staff to process the... [ More ]

Comment #3

Onelast8 — Sat, 02 Nov 2024 15:03:12 GMT

Congrats on winning 44 Million Dollars.

The first you should always do is hire an attorney to act on your behalf before you go to the Lottery Office.

Instead of going on the local news and crying about it and trying to get the public sentiment in your favor to pressure the lottery to speed your process up.

Comment #2

Tony Numbers — Sat, 02 Nov 2024 14:25:28 GMT

Guilty until proven innocent

Comment #1

billybucks — Sat, 02 Nov 2024 13:45:35 GMT

California man says he's waited nine weeks for $44 million Powerball lottery jackpot payout

Lottery Post — Sat, 02 Nov 2024 13:35:19 GMT

Lengthy waits are common for big lottery winners in California

Includes video report

By Kate Northrop

A California man claiming he won a $44 million Powerball jackpot in August says he has been waiting over nine weeks to receive the winnings from the California Lottery.

A frequent lottery player, an Orange County resident named Jerry says he has yet to see the winnings from a $44 million Powerball jackpot prize deposited into his account.

Fantasy 5, Powerball, Super Lotto, Me... [ More ]