Wednesday, 1 April 2015
Last updated 8 hours 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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…