South Florida Estate Planning Law

Update on the Lottery Winning Money Managers - Are They Hiding the Real Winner?

In my last post, I wrote about some very already rich bankers who won $254 Million in the Powerball Lottery. I expressed my confusion though, as to why three unrelated people were accepting their winnings in a single trust, instead of having the lottery split it for them. I hypothesized that the Putnam Family Trust was only a temporary holding entity, that would then subdivide the proceeds among entities of the three families.

Now, the Daily Mail, a British tabloid, has another theory.

In an article titled, Could they lose the fortune? Rich bankers who 'posed as a front for mystery client' could forfeit $254m Powerball jackpot, the Daily Mail alleges that the three bankers were not the real winers, and that they were collecting it for one of their clients who wanted to avoid the publicity.

Stay tuned.

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Law Offices of David A. Shulman, P.L
Fort Lauderdale, FL