She may have trusted the wrong man. Gloria Mackenzie is suing her own son and his financial advisers after winning the Powerball jackpot in 2013.
The 90-year-old widow became the “largest sole lottery winner in U.S. history” at the time she won the $590 million prize. After deciding to take the lump sum, she pocketed $278 million. According to the Associated Press, she gave half of it to her son, Scott, who also has power of attorney over her fortune.
But Gloria is now accusing her own flesh and blood and the financial advisers of making bad investments that have cost her $2 million in fees, the AP reports. She has filed a lawsuit claiming breach of fiduciary duty, breach of contract, negligence, and exploitation of a vulnerable adult.
The AP, citing the lawsuit, reports that her son and the financial advisers, in addition to the $2 million in fees, allegedly cost her tens of millions of dollars by putting her winnings into low-return investment CDs and money market accounts. The 90-year-old also claims her son swore to take care of her for the remainder of her life, and that he allegedly threatened to disinherit his sister when she told their mother the financial adviser had been professionally disciplined before.
Scott responded in court documents to say that he and the financial adviser were acting based on what she said she wanted, which was to maintain her wealth and go with “conservative investment vehicles,” according to the AP.