• 29 Nov 2011 at 12:30 PM

Connecticut Powerball “Winners” Go The Extra Mile

Yesterday afternoon, three Greenwich men came forward with a winning Powerball ticket worth $254 million. Lottery officials had been searching for nearly a month to find them, posting billboards all over Connecticut “urging” the ticket holder to reveal him or herself and claim the prize. But when Gregg Skidmore, Tim Davidson, and Brandon Lacoff finally did, it was not how people pictured it. Frank Farricker, for one, was very disappointed. He’d expected the men to be more excited, more celebratory, more over the top pumped about their windfall. Frank didn’t get that, though. Instead he got three guys who seemed at best embarrassed and at worst pained to be collecting, after taxes, a lump sum of $103.5 million. At the time, some speculated that the reason the trio, Skidmore in particular, looked like they were about to have a group colonoscopy rather than take home a bag of cash, was that they were worried how it would appear, given that they are not just Gold Coast residents but money managers in Belpoint Capital, and you know how the general public feels about those types. Today, however, another theory has emerged.

The explosive claims blow apart the fairytale story that Mr Davidson bought the ticket at a gas station in Greenwich Connecticut for $1. It would also explain the bankers’ sheepish performance at a press conference to collect their ‘jackpot’, during which they refused to discuss their relationship with each other. It had been suggested that Mr Davidson bought his ticket on November 1 and the following day they realised their numbers had come up, beating odds of 195,249,054 to one. Now, according to a family friend who has known Mr Lacoff since he was a boy, the truth behind what happened is very different. Tom Gladstone said that a client at investment company Belpointe LLC, which was founded by Mr Lacoff and provides investment advice, much of it to wealthy individuals, was the real winner. He, Mr Davidson and Mr Skidmore then set up the Putnam Avenue Family Trust which will allow the man to keep out of the spotlight. Mr Gladstone, a real estate agent who rents Mr Lacoff the Belpointe office space, said: ‘The person who really won it is anonymous. ‘They set up the trust so that Brandon and his two partners could claim they won it and that the real winner wouldn’t get hassled…‘The winner is a client of theirs and their clients are a mixture of larger and smaller investors. By Wall Street standards they are not big players.

One the one hand, that would be a lot of trouble to go to for one client though on the other, LOOK AT THESE FACES:

Are those the faces of people who just won over $100 million (which for them actually is quite a bit more than pocket change, despite the desire by some to see the loosely thrown about words “money manager” and assume mind-boggling wealth)? No, they are not.  Skidmore is wondering if he could murder everyone in the room and make it look like an accident. Additionally, three people don’t pool their odds on one ticket, they do so on a bunch. Furthermore, and most importantly, when you’re running a relatively small shop and need the money, bending over backward for clients is exactly the sort of thing you do.

Over a billion in assets, sure, you tell a client proposing you embarrass yourself to spare his own embarrassment to fuck off. Under? It’s, “Yes, I’d love to claim ownership of this scratch off and have my picture taken with a gigantic check so you don’t have to/of course I’ll run in to buy your wife tampons while you wait in the car/obviously I’ll wait on line to buy you a Cinnabon with extra syrup at the airport we’re flying into so you don’t have to look like the one with no self-respect.”

This jig is up.

Were they just a front for a mystery client? Rich bankers who claimed $254m Powerball jackpot accused of NOT being real winners [Daily Mail]
Earlier: Powerball Officials Finally Smoke Assset Manager Winners Out Of Their Hole

91 comments (hidden to protect delicate sensibilities)
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Comments (91)

  1. Posted by geoffgeoffgeoff | November 29, 2011 at 12:49 PM



  2. Posted by Not Stevie's Ticket | November 29, 2011 at 12:51 PM

    over-under they bought it at a discount from the person wishing to remain anonymous?

  3. Posted by CoveredLong | November 29, 2011 at 12:52 PM

    "…wait on line to buy you a box of Cinnabons at the airport we’re flying into so you don’t have to look like the one with no self-respect"

    Ordering Fat Faggot Treats (yes, with the hot cum) and pretending to win the lottery is definitely the not killing it.

  4. Posted by Guy with A.D.D. | November 29, 2011 at 12:54 PM

    I think you broke the "Caps-Lock" key on your computer buddy
    Just sayin'

  5. Posted by lex luthor | November 29, 2011 at 12:56 PM

    I'm guessing michael moore is the winner…who else would work so hard to cover this up? Pelosi? Corzine? Goetz? The FLOTUS?

  6. Posted by Alt_EST | November 29, 2011 at 12:58 PM

    Pictured at left: The evil version of Red Forman.

  7. Posted by Girl who's faking it | November 29, 2011 at 12:59 PM

    Never comment again.

  8. Posted by geoffgeoffgeoff | November 29, 2011 at 1:00 PM


    (This post was made painstakingly by me.)

  9. Posted by Chevy_Chased | November 29, 2011 at 1:02 PM

    It seems a little convenient that Barney Frank chooses to retire from Congress after this ticket is anonymously claimed in a state just south of Mass. It seems from the look on their faces that the guys at Putnam Ave are not only bending over backwards, but forwards for their client.

    -Dive Bove, Contrarian Conspiracy Theorist

  10. Posted by Chevy_Chased | November 29, 2011 at 1:03 PM

    Michael Moore never avoids the spotlight

  11. Posted by Financial_Servicer | November 29, 2011 at 1:03 PM

    Wait, which direction are these guys bending over for their client?

  12. Posted by TurkeyTom | November 29, 2011 at 1:04 PM

    Those guys look so dull it is quite possible they are all CFA charterholders

  13. Posted by Deleveraging | November 29, 2011 at 1:07 PM

    So let's say they get $120MM to manage at 50bps all in, so we are looking at $600K/year. Now knock another 30% off that for overhead, embarrassing yourself, getting your balls busted by this client, divide it 3 ways and pay taxes. On the plus, you don't have to worry about some sleazebag with a CFA trying to steal your client.

    Anyone else take a shot at the math?

  14. Posted by Guest | November 29, 2011 at 1:07 PM

    He actually cannot physically avoid the spotlight

  15. Posted by contango | November 29, 2011 at 1:17 PM

    chances of this guy staying with belpoitne capital < 10%

  16. Posted by PermaGuestII | November 29, 2011 at 1:17 PM

    Hmmm… now what major Wall Street figure do we all know who's been having a few liquidity issues recently, who might be willing to sell a lottery ticket at a discount (instead of, say, shares in an illiquid wireless technology company)?

  17. Posted by capslockexpert | November 29, 2011 at 1:18 PM

    Are you not familiar with how the Caps Lock button works? You press it once and then it stays engaged. I highly doubt geoff broke it.

    Just sayin', buddy.

  18. Posted by I'm a Dude | November 29, 2011 at 1:22 PM

    if they are just posing for client, which is stupid because you get a 2 -bit lawyer to do that, why did all 3 of them need to pose? why not just one?

  19. Posted by PMCO/1+(1-Tc)x(D/E) | November 29, 2011 at 1:27 PM

    84k / year = very large stretch limo

  20. Posted by i hate me some me | November 29, 2011 at 1:28 PM

    aka Red Forman in robocop

  21. Posted by Assburgher | November 29, 2011 at 1:31 PM

    He's the only one who bothered to get into the role of "I won decamillions, am hungover, haven't shaved in days, and will never have to wear a tie again." It's the other two who are just phoning it in.

  22. Posted by PMCO/1+(1-Tc)x(D/E) | November 29, 2011 at 1:31 PM

    Given the location of the purchased ticket, my guess is it belongs to an illegal migrant worker hanging out under 95 – who then sold it to these guys for 70 cents on the dollar.

    -motive examiner

  23. Posted by Guest | November 29, 2011 at 1:32 PM

    at least 2 of them were necessary, lest they violate roseanne's wealth cap.

  24. Posted by Jay | November 29, 2011 at 1:34 PM

    Comment of the Month

  25. Posted by FKAFinkNottle | November 29, 2011 at 1:36 PM

    You pig!

    – Wilbur

  26. Posted by Guestaroo | November 29, 2011 at 1:38 PM

    Me and the Lord, we have an understanding…


  27. Posted by lol wut | November 29, 2011 at 1:44 PM

    It also doesn't make sense that the guy bought "only 1 ticket" but it is being split between 3 people. When jackpots are split, then there is usually a pool involved, which would infer that multiple tickets were purchased. Pretty sure these guys didn't each scratch toghether 33 cents to buy just 1 ticket.

  28. Posted by Guest | November 29, 2011 at 1:48 PM

    Low marginal cost increases in money management for $120mm AUM bro.

  29. Posted by guest | November 29, 2011 at 1:53 PM

    i think the disappointment on these gentlemen's faces is not that they won the lottery, it's the realization that they probably will have to become goldman sach's clients now. that makes the barney frank treatment look like a walk in the park!

  30. Posted by Harold Pinter | November 29, 2011 at 1:54 PM

    {Scene. 3 men. Conference room. Shades drawn.}

    "Hey, Tim – we're going to accept the money on Mr. Client's behalf. You go do the whole press thing".
    "No way. You know so much – YOU get up there."
    "Look. If we're all going to benefit from this, then we've all got to take the pain. We're ALL going up. We'll just say we split the ticket. It's 10 minutes. We can fake it that long."

    (Tim avoids "that's what your wife says every night" joke to preserve the peace).


  31. Posted by Way Back Machine | November 29, 2011 at 1:56 PM

    Years ago, the wife of some rich guy in Greenwich won the lottery. It was $8 million. She refused to be photographed, just ran in and out, and never did any press. So, it makes a lot of sense that someone would offer $108 mil in AUM to a bunch of pantingly-eager 100-bippers and avoid the limelight. $10 says Putnam Family Trust goes out of business in 18 months when the client decides he needs the money for "estate planning" purposes.

  32. Posted by guest | November 29, 2011 at 1:59 PM

    Are you under the impression the name of the firm is Goldman Sach? Also, never comment again.

  33. Posted by Could it be.... | November 29, 2011 at 2:00 PM

    Shippan Point gas station is very, very close to Cummings Point Road. Just sayin'.

  34. Posted by Way Back Machine | November 29, 2011 at 2:03 PM

    Greenwich woman who won in 2008:

    GREENWICH, Conn. (AP) — A Greenwich woman was in no rush to claim an $8.8 million lottery jackpot she had won nine months ago.

    The woman, Lynn Hagerbrant of Greenwich, finally stepped forward on Monday with the winning Connecticut Lottery Classic Lotto ticket from Nov. 23, 2007. The winning numbers were 4-7-10-23-28-38.

    Lottery officials said on Thursday that she had waited to claim the jackpot so she could put together a long-term plan for the money. That plan was not announced, and Ms. Hagerbrant did not respond to a phone message.

    Ms. Hagerbrant bought the “Quick Pick” ticket at a gas station in Greenwich. She took the lump sum option, which cut the prize down to $3.8 million after taxes.

    Winners have one year to claim their prizes. Lottery officials said there had been growing speculation that the jackpot would go unclaimed, as a dozen others have in the last 25 years.

  35. Posted by guest | November 29, 2011 at 2:07 PM

    Don't get BL's hopes up like that.

  36. Posted by Cut Me | November 29, 2011 at 2:08 PM

    ..or what Wall Street wife would want to keep the winnings anonymous should a seperation occur?

  37. Posted by guest | November 29, 2011 at 2:10 PM

    just because you can't get a job with your english degree doesn't give you the right to rudely correct grammar in internet blog comments

  38. Posted by Not Me | November 29, 2011 at 2:12 PM

    I cannot wait to make that kind of cash when I'm an MD.
    -UBS VP

  39. Posted by Mr. Blonde | November 29, 2011 at 2:14 PM

    Only by boat, not by Zamboni (or Maybach)

  40. Posted by Guest | November 29, 2011 at 2:14 PM

    Yeah, it usually takes 100 of us to scratch that together.
    -UBS MD

  41. Posted by Guest | November 29, 2011 at 2:16 PM

    I've been very close to Cummings Point many times over.
    -Lynn "2 the" T.

  42. Posted by Could it be... | November 29, 2011 at 2:18 PM

    Who says he was filling up a car?

  43. Posted by agreatdaytothink | November 29, 2011 at 2:19 PM

    I used to rent my place out to 3 doctors-in-residence. Total rent was $3,200. Each sent separate checks for $1,666.66. Every month I would launch into an expletive-filled rant to my wife about my missing penny.

    Point being, if it was my dollar, and each of those tool bags only offered 33 cents, when it came time to divy winnings, they damn well better understand that it is split pro-rate plus several points to me for having to be de-facto managing member.

    My money is on the guy in the middle who had to pay $0.34. You can just tell about these things.

  44. Posted by JSC | November 29, 2011 at 2:22 PM

    wish I had doubled down on lottery tickets instead of Italian debt


  45. Posted by BrotherLehman | November 29, 2011 at 2:28 PM

    You're a real math wiz. Call me.

    -D. Fuld

  46. Posted by deelb00k | November 29, 2011 at 2:31 PM

    take a lap

  47. Posted by ... | November 29, 2011 at 2:36 PM

    I would certainly not launch into a rant if they were overpaying me

  48. Posted by Guest | November 29, 2011 at 2:38 PM

    The missing penny? You should be happy about the extra 1800 they were paying

  49. Posted by Duh! | November 29, 2011 at 2:39 PM

    That's because he has a lot of guts

  50. Posted by guest | November 29, 2011 at 2:48 PM

    keep winning.

  51. Posted by Guest | November 29, 2011 at 3:01 PM

    Why do you have to ruin things?

  52. Posted by Guest | November 29, 2011 at 3:04 PM

    Boy, if you were that pissed about a missing penny, how do you feel that you were actually 2 pennies shy of a whole number?

  53. Posted by Guest | November 29, 2011 at 3:06 PM

    Actually they shorted him 2 pennies then.

  54. Posted by guest | November 29, 2011 at 3:08 PM

    Get the Louis CK reference Bess was making, and Covered was continuing.

  55. Posted by Duh! | November 29, 2011 at 5:16 PM

    Because I don't want you to have nice things.

  56. Posted by Guest | November 29, 2011 at 5:36 PM

    You know an idea as crazy as that just might work!

  57. Posted by Guest | November 29, 2011 at 5:38 PM

    Same dif/no dif?

  58. Posted by alligator juice | November 29, 2011 at 5:53 PM


  59. Posted by BessLevin | November 29, 2011 at 10:42 PM

    I appreciated it.

  60. Posted by Che | November 30, 2011 at 5:43 AM

    Bunch of white collar criminals as a front for someone in deep 'S****T trouble with Feds. The truth will surely come out. Sit tight, folks! They all look like a bunch deers caught in high beam head lights.

  61. Posted by Che | November 30, 2011 at 5:53 AM

    Get it together will ya?
    They're a bunch of white collar crooks and as a front for someone in deep trouble either with the Feds. or facing a series of lawsuits for fraud. Hang on unto your cow boy hat, the truth will surely come out. And if they're caught, could face a charge of aiding and abetting. They will then be crying for their mama.

  62. Posted by lol wut | November 30, 2011 at 8:12 AM

    No crimes would be committed by accepting money for a trust. Go back to zucotti park.

  63. Posted by Brenda DesJarlais | November 30, 2011 at 2:57 PM

    associated press article reported Ranjit Singh manager of the Getty station where the ticket was purchased said "he didnt know the winners and didnt remember selling the winning ticket" and in another article Singh says the one man was a regular customer and he remembers selling him the ticket? WTF? someone pay him off?

  64. Posted by A Trader | December 2, 2011 at 7:35 PM

    Guy on the right is clearly the trader… Traders don't wear ties.

    – Lazy non-tie-wearing trader

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