(Part 2 of 2)

One of the primary reasons for the government’s inability give back forgotten cash to residents, they claim, is that they cannot be located. Problem is, would would ever think people like Angelina Jolie, ZsaZsa Gabor, Gerri Halliwell, Victoria Beckham, Keanu Reeves, Brad Pitt, Adam Sandler, Marlon Brando and Jennifer Lopez would be hard to track down? Those names and the names of a number of other famous people are some of the names in the Cali missing money list and yet they have not heard from the employees in the California Unclaimed Money Division. They’re all owed checks for forgotten funds by Cali amounting from hundreds to the thousands as in the case of Angelina Jolie. This just proves Cali state officials’ interest in holding this cash in the general fund for use in balancing the budget deficit for as long as they can. In fact, there was a recent ruling by a federal judge on CA abandoned money, stating that the state was not trying hard enough to return it to its rightful owners and has temporarily halted the state’s s ability to seize it until a new policy of returning it to the rightful owners was adopted.

The total dollar amount for these funds in CA averages $5 billion annually – just imagine how much interest that generates for the state! Sacramento attorney Bill Palmer who has fought in a number of cases involving California unclaimed money, sad that the state’s program was supposed to be a lost and found of sorts for Californians. Sadly, it was turned into a profit making ‘business’ in the past few years.

The hold on the taking of property by CA has since been lifted and the new CA State Controller, John Chiang, is making extra efforts in the form of widespread reforms in improving how his office deals with California unclaimed money. There’s still a great 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 perform a thorough search for them and take back what belongs to them.

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