Around New England

Maine Native Sues Son Over How He Managed Her $278 Million Lottery Winnings

April 13, 2019

A 90-year-old Maine native who won a $278 million Powerball lottery in 2013 is suing her son for mismanaging her money.

Gloria C. Mackenzie, who now lives in Florida but used to live in East Millinocket, Maine, says she has lost more than $10 million while her son (who is also her caretaker) and the investment manager have lived large off her winnings, according to The Florida Times-Union of Jacksonville.

Mackenzie has donated more than $3 million to nonprofit endeavors in Maine, including toward school projects in East Millinocket, according to the Bangor Daily News.

She was renting in a trailer park in north Florida when she won the lottery six years ago, and subsequently bought a million-dollar home at a country club.

Her son managed the money for her. He hired a local financial adviser who had a Saturday morning radio show in the area. According to Mackenzie’s lawsuit, the money has been poorly invested and the adviser has charged outrageous fees.

Her son’s lawyer says the financial adviser put her money in conservative investment vehicles that reflected her wishes, and that a relatively low rate of return is not the adviser’s fault or her son’s fault.

Mackenzie actually won $590 million in 2013, but took home a lump sum of about $278 million after taxes.



Read More