A 90-year-old woman from Florida, who won $ 278 million on a Powerball ticket six years ago, sued her son and financial advisors, claiming that her money was used to make bad investments while she charged $ 2 million in fees were calculated.
Gloria Mackenzie was widowed and living in a dirty maisonette when she bought the Jackpot Powerball ticket at a Publix supermarket in Zephyrhills, Florida on May 18, 2013 after a friendly stranger put her in line.
She filed the lawsuit against her 60-year-old son Scott Mackenzie and his financial advisors before a state court in Jacksonville last month.
Scott Mackenzie had authority over his mother's finances.
Gloria Mackenzie and her son Scott are seen leaving the Florida Lottery office in 2013 after requesting a lump sum payment for the Powerball jackpot
Scott Mackenzie (left) hired local radio broadcaster Hank Madden (right) to act as an investment advisor to his mother for reasons that "escape virtually everyone," said her lawyer
He was working as a deputy manager in a shoe store when she hit the jackpot, and it was reported that they agreed to split the price at the time when he claimed that he had given her half the money to get the winning ticket to buy .
As the wife of a mill worker, Gloria Mackenzie says that she has little experience in handling large amounts of money and relies on her son.
Gloria's lawyer Gregory Anderson informed the Florida Times Union that Scott hired an investment advisor named Hank Madden, who runs a local call-in radio with financial advice on Saturday morning, for reasons that "elude virtually anyone who has researched this".
Madden calculated "outrageous amounts and fees that are completely unrelated to actual performance," Anderson said.
The lawsuit alleges that due to Madden's strategy, Gloria missed the expected investment gains of tens of millions of dollars while paying attractive fees of more than $ 2 million.
Madden (far left) hosts his weekly radio show Smart Money. Madden is also a professional financial advisor at his company Madden Advisory Services
Madden can be seen on the far left in 2013 and accompanies Gloria and Scott (on the far right) who visit the lottery office in 2013 to win the Powerball jackpot
The suit says that Madden had never had an account the size of the Mackenzies and that previous customers had complained about him.
"Scott failed to conduct due due diligence to examine and understand the person responsible for his mother's nine-figure portfolio," the complaint said.
Scott says in court records that there is no basis for a lawsuit just because the investments have not grown the way his mother liked.
His lawyers said in an application that Scott had merely introduced his mother to an investment advisor who, according to her chosen investment objectives, put her in "conservative investment vehicles" and effectively preserved her assets.
Scott Mackenzie (above) is listed as the owner of the mansion that Gloria bought with her profits
It is unclear how much of Gloria's fortune is left.
In 2013, she bought a 6,300-square-foot, five-bedroom house at the Glen Kernan Country Club for $ 1.2 million.
The certificate for the home was transferred to her daughter and trustee Melinda MacKenzie in June 2013. However, the records show that she is listed under her son's name.
After winning the jackpot, Gloria offered to donate $ 2 million to fix the roof of a high school in her hometown of Maine.
According to Anderson, Scott Gloria has banished from the Country Club Villa & # 39; and she currently lives in Jacksonville with another of her children.
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