Was wealthy client behind huge lottery win?

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The Independent US

The tale of three money managers claiming the biggest lottery payout in Connecticut history last week had already defied the traditional rags-to-riches plot everyone loves. Now it appears that the more than $100m (£64m) in cash will not go to their pockets at all but rather to a client of their firm, who needs it even less.

Perhaps it was the deadpan look on the faces of the trio, who are all employed by Belpointe Asset Management in the well heeled town of Greenwich that first got people wondering. The suggestion now is that the ticket belonged to a client of theirs who wanted a way to enjoy the money without revealing his identity. The solution, according to a local estate agent who rents out office space to Belpointe, was for the men to set up a trust for the money and then act as a front for the client pretending they had bought the ticket.

If this proves to be correct the state might ask for its cheque back. While the payout totalled $254.2m, the trio opted to take a lump-sum, after-tax payment of $104m. But lottery rules appear to stipulate that all payouts will be voided if the purchaser of the winning ticket does not show up in person to collect their prize.