Aug 2, 2006, 12:54 pm
Two men representing a trust claimed the $101.8 million Powerball jackpot from the Oklahoma Lottery Commission, lottery officials announced Wednesday.
The WJW Investment Trust will receive a lump-sum cash payment of $32.8 million after taxes. The winning ticket was purchased at a Broken Arrow convenience store on June 17. Indiana also sells the tickets.
Trustee Richard Barlow and the trust's attorney, David Walls, presented the winning ticket to the Lottery Commission on Tuesday, said Jay Finks, a spokesman for the Oklahoma Lottery Commission.
In a statement released by the trust, the beneficiaries said the trust was created to maintain their privacy and to help invest and manage the proceeds.
"They wish to deal with the funds in a prudent manner in accordance with their own desires, values, and standards," the statement read.
"We are proof that you never know when you might win and you cannot win unless you play," the beneficiaries are quoted as saying.
Jim Scroggins, executive director of the Oklahoma Lottery, said lottery officials were growing concerned that the winning ticket may have been lost.
"That fear has now been put to rest, and it's great to know that the trust and the state of Oklahoma each will benefit as a result," Scroggins said.
Oklahoma will receive more than $1.8 million in state taxes. The federal taxes on the jackpot totaled $11.5 million.
The current Powerball jackpot is $178 million. The drawing is tonight at 11:00 PM Eastern Time.
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