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Fund managers win $254,200,000 Powerball jackpot

Lottery results and news blog - Lottery News

Powerball Lottery Winners
From left: Anne M. Noble (Connecticut Lottery President and CEO), Timothy Davidson, Gregory Skidmore, Brandon Lacoff, and Frank Farricker (Connecticut Lottery Chairman)

Three wealthy businessmen from Greenwich, Connecticut, USA, won the $254,200,000 Powerball jackpot on Wednesday, 2 November 2011.

Tim Davidson, Greg Skidmore and Brandon Lacoff won the jackpot from a single $1 lottery ticket bought at a BP petrol station. The lucky lottery numbers were generated at random by the lottery machine. French speaking Mr. Davidson (59) bought the lucky lottery tickets for the 3-man lottery syndicate.

The main winning lottery numbers were: 12 , 14 , 34 , 39 , 46. Powerball bonus number: 36. The Powerball jackpot is won by matching the main numbers and the Powerball number.

2 November 2011 Powerball Lottery Results
Follow our Powerball lottery blog for the latest lottery results. We did mention in our blog post that a lottery ticket from Connecticut won the jackpot!

The three wealth managers own Belpointe LLC in Connecticut. The firm specialises in real estate and general wealth management. Mr. Lacoff was raised in Switzerland. Mr. Skidmore is from France and Mr. Davidson is from the UK.

The winners waited almost a month to claim the jackpot. This delay caused lottery officials from Connecticut to put up billboards across the state to remind lottery players to check their lottery tickets. The $254 million jackpot is the biggest jackpot to date for the Connecticut Lottery Corporation.

The winners' lawyer, Jason Kurland, said the winners called him the day after the drawing. Mr. Kurtland said: "They (the winners) thought they were the winners, and then, that night, I think, one of the local TV stations had the numbers, and the Powerball number was wrong on the TV screen, so that put them into a little bit of a tizzy. But the news, to their credit, corrected it a few hours later, and they were confident they had it (won the jackpot)."

Mr. Kurtland said the men plan to give a portion of the jackpot to charity and said that the winners know the money will benefit a number of charitable projects.

For tax and asset protection reasons, the winners formed the Putnam Avenue Family Trust to receive the jackpot prize. The trust has already received the cash payout of $103,586,824.51.

Powerball Winner
The official USA Powerball website now lists the Trust as the jackpot winner. The actual cash value of the jackpot was reduced to $103 million due to the trust receiving the jackpot as opposed to individuals.

All Powerball jackpot winners have the option to either receive the jackpot as a lump sum after tax cash payment, or in the form of annual annuities. The vast majority of Powerball winners choose to receive their jackpot prizes in the form of lump sum payments.

The lawyer refused to say whether the winners were regular lottery players, or who the trustees or beneficiaries of the Putnam Avenue Family Trust are.

Some sources now say that the wealth managers claimed the jackpot on behalf of an anonymous person and that the trust was formed to protect the identity of the "fourth participant". The spokesperson for the winners, Mr. Gary Lewi, denied these allegations on Tuesday (29 November 2011) via a press release. He said: "To be clear, there are a total of three trustees, and there is no anonymous fourth participant..."

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Most of the national news broadcasters carried the story this week of the three wealth managers winning the Powerball lottery jackpot. The New York Post ran a front page story on Tuesday, 29 November, titled "Rich Get Richer. Wall Street guys win $254 million with $1 lottery ticket":

New York Post - Powerball Lottery Winners

It is now possible for anyone with a credit card to play the USA Powerball lottery over the internet. Choose your lucky Powerball lottery numbers now. You need to choose 5 numbers ranging from 1 to 59. You also need to choose 1 powerball number ranging from 1 to 39.

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