Lottery Winners Beware - The Odds Are Not in Your Favor

Stockbroker Law - Tuesday, September 13, 2011
Lottery Winners Beware - The Odds Are Not in Your Favor

Lottery winners are oftentimes the biggest losers when it comes to entrusting their lottery awards to financial advisers.  Stories of lottery winners going bankrupt within a matter of years after winning millions are common.

Lottery winners are also common victims of unscrupulous financial advisors, securities fraud, and theft-type schemes.

The common thread in lottery winner victimization is a convincing and controlling claimed financial professional, who improperly dumps lottery winnings in unproven, speculative and high commission products such as private placements, private business transactions and notes, unnecessary insurance products, and other generally excessive fee-generating activities, all provided under the umbrella of estate planning and asset management. 

If you are a lottery winner who has been victimized by a financial adviser or other investment professional, we offer a free initial consultation to address your concerns.

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