What could go wrong after winning a $590 million Powerball lottery? Ask Gloria Mackenzie. The now-90-year-old was the sole winner of the jackpot in 2013, walking away with about $278 million after taxes. Flash forward to the present, and the Florida woman is embroiled in a lawsuit against her son over the handling of her fortune. The Florida Times-Union reports the suit was filed in 2018 but discussed in court this week. It targets Scott Mackenzie, who has power of attorney over her finances. Gloria alleges he prevented her from earning "tens of millions of dollars" she should have generated in gains by relying on an unqualified investment adviser who charged her $2 million in fees. The adviser is Harry Madden, co-host of a radio call-in show that doles out financial advice.
Her suit alleges that in the 3.5 years Madden managed her money, she saw a return of less than 1%, reports the Jacksonville Business Journal. The suit says family members in 2014 shared with her a report detailing three past complaints against Madden, a move that had Scott threatening the family members with being cut out of Gloria's money. The suit initially filed by Gloria was dismissed in February; she filed an amended version the next month alleging breach of fiduciary duty, breach of contract, negligence, and exploitation of a vulnerable adult. On Tuesday, Scott's lawyers argued this one should also be dismissed, saying that her money was put in "conservative investment vehicles" per her wishes—CDs and money market accounts, per the AP—and that the fact her money didn't grow as much as she would have liked isn't grounds for a lawsuit. (More Powerball stories.)
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