August 24, 2008
Locating Forgotten Funds in California – Part 2 of 2
(Part 2 of 2)
One of the primary reasons for the government’s inability give back forgotten cash to its owners, they say, is the fact that they cannot be located. The issue is, would would ever think that people like ZsaZsa Gabor, Angelina Jolie, Victoria Beckham, Gerri Halliwell, Brad Pitt, Keanu Reeves, Jennifer Lopez, Adam Sandler and Marlon Brando could be hard to locate? Those names and the names of several other famous people are just some of the names in the Cali missing money list but they have not heard from the employees in the California Unclaimed Property Division. They are all owed checks for lost assets by Cali amounting from hundreds to the thousands as in the case of Angelina Jolie. This just shows Cali state officials’ interest in keeping this money in the general fund for them to balance the budget deficits for as long as they possibly can. In fact, there was a recent ruling by a federal judge on CA abandoned money, stating that the state was not doing enough to locate the rightful owners and for a while halted the state’s s ability to take and hold it until a new policy of returning it to the actual owners was enacted.
The total dollar amount for these funds in California averages five billion dollars annually – just imagine how much interest that earns for the state! Bill Palmer, an attorney in Sacramento who has fought in numerous cases involving CA unclaimed property, has said that the state’s program was created to be a lost and found for residents of California. Instead, it was turned into a profit generating ‘business’ in recent years.
The ban on the taking of property by CA has recently been removed and the new CA State Controller, John Chiang, is making extra efforts in the form of sweeping reforms in improving how his office deals with California unclaimed property. There’s still a great need though for Californians and Americans in all states across the U.S. to learn about the presence of these monies and on how to perform a thorough search for them.
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Economic stimulus checks unclaimed – Schenectady Gazette
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Economic stimulus checks unclaimed
Schenectady Gazette, NY - The stimulus package, intended to stave off a recession by providing people with extra money to spend, provided rebates of $600 to individuals and rebates … |
Chicago seeks deal with state after city keeps unclaimed property – Chicago Tribune
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Chicago seeks deal with state after city keeps unclaimed property
Chicago Tribune, United States - The unclaimed property comes in a variety of forms, from uncollected city Board of Education paychecks and overpaid parking tickets to money confiscated by … |
Comptroller hands Buffalo hospital unclaimed funds – Newsday
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Comptroller hands Buffalo hospital unclaimed funds
Newsday, NY - BUFFALO, NY – New York Comptroller Thomas DiNapoli hand-delivered more than $6000 to a Buffalo hospital to highlight the $9 billion in unclaimed funds … Roswell Park gets $6 million in unclaimed funds Comptroller returns unclaimed funds Roswell Park coffers $6K richer |
