A Florida woman who won a $ 278 million jackpot after winning the Powerball six years ago is suing her son and financial advisers, saying the money had been invested in low-yielding investments then that fees were charged to him.
Gloria Mackenzie, 90, last month in Jacksonville filed a lawsuit against her son Scott and the financial advisors he chose, alleging breach of fiduciary duty, breach of contract, negligence and Exploitation of a vulnerable adult. Scott Mackenzie had power of attorney over his mother's finances.
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In May 2013, 84-year-old Gloria Mackenzie purchased a $ 590 million Powerball ticket at a Publix supermarket in Zephyrhills. After agreeing to receive a lump sum and deducting taxes, she earned $ 278 million, giving half to her son who, in return, promised to take care of her for the rest of her days, said the trial. Prior to winning the nine-figure jackpot, Gloria was a widow who had modest savings, an inadequate education in financial management and relied on her son to help him, according to Sun-Sentinel. .
The lawsuit revealed that low yielding investments in CDs and money market accounts cost her tens of millions of dollars that she could have earned with another investment strategy. In court documents, Scott Mackenzie stated that his mother's claims "are based solely on allegations that Scott introduced Gloria to an investment adviser who placed him in prudent investment vehicles, in accordance with the objectives of placement that she had chosen, and would have effectively preserved her wealth. "
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A judge had previously dismissed a similar action, but had allowed Gloria Mackenzie to file the amended complaint.
When Gloria Mackenzie won the jackpot, she was "the biggest single lottery winner in US history," the Florida Times-Union reported. We did not know right away how much he had left.
Associated Press contributed to this report.