Do you play in a lottery group? Keep good records

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This lottery winner will need to spend a portion of his prize on a defence lawyer.

A 70-year-old Toronto man is facing theft and fraud charges after allegedly claiming a $1-million Lotto Max prize that was actually intended to be split among three people.

Ontario Provincial Police say they launched an investigation in September and confirmed that the winning ticket was part of a group play arrangement.

For the many Canadians who play the lottery with a group, this case is a timely reminder to make sure you keep good records. What kind of records?

Stephan Desbiens, a portfolio manager at Exponent Investment Management, has all the answers. He also has some good advice for the lucky few who strike it rich at the lottery kiosk.

Desbiens is our guest on tonight’s episode of Village Media’s Closer Look podcast.

Hosted by Village Media’s Michael Friscolanti and Scott Sexsmith, and produced by Derek Turner, Closer Look is a new daily podcast that goes way beyond the headlines with insightful, in-depth conversations featuring our reporters and editors, leading experts, key stakeholders and big newsmakers.

Fresh episodes drop every Monday to Friday at 7 p.m. right in your local news feed — and on the show’s dedicated website: closerlookpodcast.ca. Of course, you can also find us wherever you get your favourite podcasts.

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