Wednesday, April 17, 2019

Winner of the largest lottery ticket "mismanagement of wealth"




A 90-year-old US lottery winner sued her son and financial advisers for mismanaging her wealth.

Gloria McKenzie became the biggest winner of the Powerball lottery in US history when she earned $ 278 million six years ago.

McKinsey, who lives in Florida, claims the funds have been invested in useless ventures, leading to millions of dollars in losses.

Her son, Scott McKenzie, says the case is unjustified.

McKenzie was 84 when she won $ 590.5 million in 2013. But she chose to take the money once and got $ 278 million after taxes.

McKinsey says she gave half of the prize to her son, who promised to look after her for the rest of her life.

Due to her lack of experience managing large sums of money, her son gave her legal power to manage her finances.

In a lawsuit filed last month in Jacksonville, McKinsey alleges that her son and financial advisers invested her money in low-yield projects that cost her tens of millions of dollars if she managed the money well.

The fee for the lawsuit was $ 2 million.

Her son says there is no basis for these legal procedures.

"The claims are based solely on allegations that his mother provided an investment adviser, who in turn invested her money in conservative investment portfolios, according to the investment goals she chose, which in turn kept her wealth.
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