When the story broke it seemed like a cruel irony. A trio of wealth managers had won $254.2 million in the Powerball lottery.
The rich were getting richer—even in the lottery.
But just one day after Timothy C. Davidson, Brandon E. Lacoff and Gregory H. Skidmore, claimed the winning ticket in the November 1st drawing, the story is being called into question.
The story from the three men, who work for the Greenwich-based wealth management Belpointe Asset Management, was that they had stopped in a gas station near Stamford, Conn., and split a single lottery ticket. When they discovered they had won, they set up the Putnam Avenue Family Trust to handle the winnings.
Almost immediately doubts were raised about this story. Would three wealth management professionals split a lottery ticket three ways? A person familiar with the gas station in question described it as "sketchy" and said she was skeptical these guys would even patronize it.
There was speculation that the trio could be acting on behalf of someone else who, for some reason, could not publicly claim the ticket. Perhaps an illegal immigrant. Or someone who wanted to hide assets from tax-collectors or an unhappy spouse.
Now a neighbor of one of the men has told Kevin Roose of DealBook that he was told on Tuesday that the trust was established for the benefit of another person.Page 1 of 3 | Next Page