Saturday, 30 August 2014
Last updated 1 day ago
Nov 30 2011 | 9:46am ET
Did they or didn't they? Just days after three hedge fund managers claimed the largest lottery jackpot in Connecticut history, rumors abound that they are merely serving as a front for an even richer winner—with further rumors abounding about just who that might be. SAC Capital Advisors' Steven Cohen, anyone?
"To be clear, there are a total of three trustees and there is no anonymous fourth participant," Gary Lewi, a spokesman for Belpointe Asset Managements' Tim Davidson, Brandon Lacoff and Greg Skidmore told Bloomberg News. "Within the next 10 days, the trust will be distributing $1 million" to charities in the state.
But a man who describes himself as a family friend of one of the winners, Lacoff, told London's Daily Mail that "the person who really won it is anonymous."
Stoking a conspiracy stemming from the alleged winners' decision to have the $104 million lump-sum payment made to a trust, Tom Gladstone said, "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 real winner, Gladstone claims, is "a client of theirs."
"They have said they are going to give it to charity but they are really going to manage the money," Gladstone, a realtor who rented Belpointe its Greenwich office space, said. "They are going to make a donation but they are keeping a large proportion of the money and they are going to manage it."
If Gladstone's story is true, Belpointe has more than doubled its assets under management in one swoop. The firm currently runs $82 million.
The Belpointe trio took almost a month to come forward after the drawing on Nov. 2 produced a winner for the $254 million jackpot. Davidson said he purchased a single ticket on Nov. 1 at a Stamford gas station but said little else at a press conference organized by the Connecticut Lottery. The owner of the gas station said he didn't remember Davidson, but that it had been a busy day.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...