A self-proclaimed ‘Lottery Lawyer’ has been indicted for defrauding US lottery winners out of $107m with the help of a some alleged mob associates.
On Tuesday, the US Attorney’s Office for the Eastern District of New York announced the indictment of Jason ‘Jay’ Kurland, Christopher Chierchio, Francis Smookler and Frangesco Russo on charges of wire fraud, money laundering and conspiracy.
Kurland’s New York law firm represented lottery winners with total winnings of around $3b, advising them on how to safely invest their windfalls. In reality, Kurland steered his clients’ cash into entities and deals controlled and directed by his co-accused, for which he received kickbacks that weren’t disclosed to his lottery clients.
Kurland (pictured) would occasionally funnel a portion of his clients’ funds back to them as ‘interest payments’ on their investments although the bulk of the ‘invested’ funds were ultimately lost. Much of it went to fund the defendants’ lavish lifestyles, including private jets, luxury vehicles, two yachts and pricey vacations.