WAIT! Were The Money Managers Who Won The Powerball Fakes?

asset managers lottery

[credit provider=”Dan Primack” url=”http://twitter.com/#!/danprimack/status/141241570451128320″]

Those Greenwich, Connecticut-based money managers who claimed the $254 million Powerball Jackpot prize Monday are not the real winners, one of their “friends” told London’s Daily Mail. [via New York Post]Real estate agent Tom Gladstone, who the Daily Mail describes as a family friend, claims the three Belpointe Asset Management employees accepted the lottery prize on behalf of one of their clients so that individual could remain anonymous.  

Here’s what he told The Daily Mail:

“The person who really won it is anonymous. They set up the trust so that Brandon and his two partners could claim they won it and that the real winner wouldn’t get hassled.”

“They have said they are going to give it to charity but they are going to manage the money. They are going to make a donation but they are keeping a large proportion of the money and they are going to manage it.”

“The winner is a client of theirs and their clients are a mixture of larger and smaller investors. By Wall St standards they are not big players.”

The winners announced yesterday were Gregg Skidmore, Brandon Lacoff and Tim Davidson from Putnam Avenue Family Trust, which they formed after Davidson purchased the winning ticket from a gas station for just $1 dollar, the Associated Press reported.

Investigative reporter Teri Buhl points out that during the press conference the money managers were mum and left several reporters frustrated after they failed to answer questions about how exactly they got together to buy the winning lotto ticket.   

Buhl also notes that the trio had to undergo ethics check by the Connecticut lottery commission prior to accepting the prize.  She explained that process entails checking for liens or unpaid taxes they might have.  They all passed. 

She raises an interesting point about Gladstone’s claim there is an anonymous real winner.  [via teribuhl.com]

Assuming Gladstone has his facts straight and the trio didn’t win the ticket this leaves the CT Lottery Commission with a challenge. They can’t check if there are liens or unpaid taxes against the real winner.

Sounds like these guys might have some serious explaining to do.