$2bn Powerball Winner Faces Stolen Ticket Lawsuit

By: Online Lotteries

$2bn Powerball Jackpot Winner Sued over Claims of Stolen Winning Ticket

The luck of Edwin Castro, the Californian man who won a record-breaking $2 billion Powerball lottery draw last November, is being put to the test. He now faces a lawsuit from Jose Rivera, another Californian, who asserts that the jackpot-winning ticket rightfully belongs to him.

$2B Powerball winner, Edwin Castro's winnings are contested.

The lawsuit, filed in the Superior Court of Alhambra, places Castro's gargantuan lump-sum prize of $997.6 million in contention. However, the California Lottery has expressed its full confidence in Castro as the rightful claimant. Back in February, they affirmed their rigorous process for verifying the winners of prize money and stated that they had thoroughly checked Castro's claim.

Rivera's lawsuit tells a different tale, claiming he purchased the winning ticket on November 7, 2022, and it was subsequently stolen by an unidentified man - not Castro. The details of how this stolen ticket could have ultimately reached Castro's possession remain undisclosed in the complaint.

Powerball tickets are sold for $2 apiece, and winners can choose how to claim their windfall. They can either receive the full amount via an annuity paid over 29 years or opt for a smaller upfront cash payment. The majority, like Castro, choose the latter.

The Powerball lottery, established in 1992, is played in 45 US states, Washington DC, and the territories of Puerto Rico and the Virgin Islands. Despite the staggering prize amounts, winners must navigate a gauntlet of federal taxes ranging from 24% to 37%. Additionally, most states impose taxes on lottery winnings, although California is one of the ten exceptions. In locations like New York City, municipal taxes further chip away at the prize money.