THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Saturday, February 4, 1995 TAG: 9502040289
SECTION: LOCAL PAGE: B7 EDITION: FINAL
SOURCE: BY FRANK ROBERTS, STAFF WRITER
LENGTH: Short : 40 lines
A $7.8 million lottery jackpot, from a ticket bought Jan. 21 at Drake's Shopping Mart in the small Southampton County town of Newsoms, was claimed Friday by a Richmond-based company formed specifically to redeem the ticket.
Paula Otto, public information officer of the State Lottery Department, said it is the first time a prize has been claimed in that manner. The jackpot, to be paid over 20 years, totals $7,778,753.
The limited-liability company, formed Jan. 30, is called KIDS. An attorney representing the company declined to name its principals. There was no record of the company in Richmond Circuit Court, and the State Corporation Commission said it could not reveal officers by phone, even if proper papers had been filed.
The Virginia lottery does not allow jackpots to be claimed anonymously, but they may be claimed by legal organizations.
Attorney Guy Crowpey of Richmond said he had been instructed not to reveal any information about the winners. Its name, he said, has no special meaning.
``The company was formed to make the claim,'' Otto said. ``This is a first for us. We like to give out names and hometowns.''
An individual acting on behalf of KIDS rented a post office box at Saunders Station in Richmond, where the State Lottery Department also has six boxes.
The company Friday got the first payment of $387,753 before taxes; $263,672 after taxes.
KIDS will get 19 additional payments of $389,000 before taxes. The lottery is required to withhold 28 percent federal taxes and 4 percent state taxes.
Drake's, owned by Harold Drake, will get a $5,000 bonus for selling the winning ticket.
The estimated lotto jackpot for Saturday is $2 million. by CNB