Fox Rothschild Lawyer Claims $457M Jackpot Ticket With Trust
A Fox Rothschild partner in the suburbs of Philadelphia appears to be representing a big winner, having claimed a Pennsylvania Lottery Powerball jackpot valued at $456.7 million.
May 01, 2018 at 04:00 PM
3 minute read
A Fox Rothschild partner in the suburbs of Philadelphia appears to have a very lucky client.
According to the Pennsylvania Lottery, an entity called Emerald Legacy Trust last week claimed a Pennsylvania Lottery Powerball jackpot valued at $456.7 million. The Associated Press reports that Fox Rothschild partner Andrew Santana signed the ticket and claim form along with the trust, opting to receive a $273.9 million cash prize, which comes out to $199.8 million after federal and state taxes.
Santana, who is managing partner of Fox Rothschild's Blue Bell office, said in a statement Wednesday that he understands the curiosity around the winners' identity, but they intend to remain anonymous.
“In order to ensure the winners' privacy and financial and physical security, we have elected to present the winning Powerball ticket and claim the prize through a trust, for which I am acting as trustee,” Santana said. “My clients live and work in small communities in Pennsylvania and desire to maintain normalcy in their daily lives. We strongly believe that maintaining anonymity is critical to ensuring that normalcy.”
The jackpot annuity value of $456.7 million actually outweighs Fox Rothschild's gross revenue for 2017 by several million dollars—the firm reported revenue of $450 million for the year.
Santana started at Fox Rothschild as an associate. He was promoted to partner in 2012, and became the Blue Bell managing partner just over two months ago.
According to his firm profile, he works with family businesses and other privately held businesses, entrepreneurs and investors on a variety of issues including corporate, real estate, tax and regulatory matters.
The drawing took place March 17, and the winning ticket was purchased at a Speedway in Manheim Township in Lancaster County. The jackpot was the eighth largest in Powerball history, and the largest ever awarded by the Pennsylvania Lottery.
According to Lancaster County newspaper LNP, lottery officials have said they are not aware of any other instances in Pennsylvania when a winner used a trust to accept a jackpot anonymously. The Pennsylvania Lottery usually releases the first and last name of the winner, and where they live.
The issue of lottery winner anonymity was the subject of a recent court case in New Hampshire after a woman there won a $560 million jackpot prize. A New Hampshire judge ruled in March that she could stay anonymous, and that requiring her to disclose her name publicly would be an invasion of privacy.
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