(Part 2 of 2)

The total dollar amount for these funds in CA averages $5 billion annually – imagine the amount of interest that generates for the state! Sacramento attorney Bill Palmer who has battled in a number of cases involving California unclaimed funds, has said that the state’s program was created to be a lost and found for residents of California. Instead, it has been turned into a profit making ‘business’ in the past few years.

The hold on the seizure of property by CA has since been removed and the new CA State Controller, John Chiang, is making greater efforts in the form of widespread changes in improving how his office deals with California unclaimed property. There is still a dire need though for Californians and residents of all other states across the U.S. to learn about the presence of these funds and on how to do a thorough search for them and take back what belongs to them.

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$50 million Lotto prize unclaimed – ninemsn
A $59.2 million truckload of cash from Oz Lotto is still looking for an owner, with no one in Australia claiming the jackpot from Tuesday night’s draw. The advertised $50 million jackpot rose to $59,295,155 as a result of strong sales for the draw …

State sues Coldwell Banker over earnest money – Crain’s Chicago Business
(Crain’s) — The Chicago area’s biggest residential brokerage has violated state law by holding unclaimed earnest money for more than five years, the state alleges in a lawsuit. The suit, filed last week on behalf of Illinois Treasurer Alexi …

Former addict warns Mass. legislators about problems with allowing … – Union-News & Sunday Republican
BOSTON – When he was growing up in North Adams, Bruce T. became addicted to the thrill of gambling while betting on the horses each August with his father in Saratoga, New York. By the time he was 22, he was tens of thousands of dollars in debt …