Gloria Mackenzie says she had scant education in managing a large sum of money and relied on her son
She gave half of her winnings to her son, who had promised to care for her for the rest of her life, according to her lawsuit
A Florida woman who won $278 million on a Powerball ticket in 2013 is suing her son and his financial advisers, claiming he squandered tens of millions of dollars through poor investments, according to the Associated Press.
In May 2013, then age 84, Gloria Mackenzie purchased a winning Powerball ticket worth $590 million but received $278 million after taxes were also deducted.
Gloria, 90, filed the lawsuit claiming her son his financial advisers put her money into low-return investments while she was being charged $2 million in fees.
Gloria Mackenzie says she had scant education in managing a large sum of money and relied on her son.
She gave half of her winnings to her son, who had promised to care for her for the rest of her life, according to her lawsuit.
However, she now says his investments haven’t brought on the returns expected and have cost her millions.
Gloria’s son, Scott Mackenzie, for his part, wrote in court papers that there's no basis for a lawsuit just because investments didn't grow the way his mother liked.
The money was invested in CDs and money market accounts that Gloria Mackenzie says could have yielded better results if invested elsewhere.
It’s unclear how much money Mackenzie has left.
At the time of her win, Gloria was the winner of the largest jackpot ever won by a single person.
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