Wednesday, November 30, 2011

Brother, can you spare $254.2 million?


OK, it's only $104 million in cash after taxes, but the Connecticut Powerball lottery jackpot, the biggest in the state's history, was won by three Greenwich wealth managers at Belpointe Asset Management, Greg Skidmore, Brandon Lacoff and Tim Davidson, otherwise affectionately known as the 1%.

The trio is already running into trouble with speculation they're merely proxies for an even wealthier anonymous client, especially since the check was deposited into a newly formed Putnam Avenue Family Trust.  They've retained Rubenstein Public Relations to handle media inquiries.

According to the Greenwich Time:
"Details of the alleged secret arrangement started to leak out Monday night in Greenwich, where a person familiar with the plot said that Lacoff tried to hire a Greenwich police officer to accompany him and the others to Rocky Hill to collect a check for $108 million.

"When a gaggle of reporters congregated outside Skidmore's home Monday night, the purported winner allegedly called the cops, who advised the trio that they could be exposing themselves to scams and threats to their personal safety. That's when the wealth managers fessed up to not being the real winners, the source said.

"At a community police partnership meeting Monday night in the backcountry, members of a citizens group were told by police that Lacoff, Skidmore and Davidson were not the real winners of the jackpot.
"Gladstone said he understands that lotto winners get hassled. By putting the money into a trust, the real winner can take advantages in the area of estate planning."
It's the third Powerball jackpot over $1 million in Greenwich in just six months.  Looks like the 1% know where to invest their money these days.

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