(Part 2 of 2)

One of the primary reasons for the inability of government give back forgotten cash to its owners, they say, is the fact that they can’t be tracked down. The problem is, would would ever think that people like Jennifer Lopez, Victoria Beckham, Brad Pitt, Adam Sandler, Angelina Jolie ,Marlon Brando, Keanu Reeves, ZsaZsa Gabor and Gerri Halliwell could be difficult to locate? Their names and the names of several other celebrities are some of the names in the Cali missing money list and yet they have never heard from the employees at the California Unclaimed Funds Division. They’re all owed checks for lost assets by Cali amounting from hundreds to the thousands as in the case of Angelina Jolie. This just proves Cali state officials’ interest in keeping this money in the general fund for use in balancing the budget deficits for as long as they possibly can. As a matter of fact, there was a recent ruling by a judge on CA abandoned cash, stating that the state wasn’t making enough of an effort to locate the rightful owners and for a while halted the ability of the state to take and hold it until a proper method of reuniting it with the rightful owners was enacted.

The total amount of unclaimed money in California averages $5 billion annually – just imagine the amount of interest that accrues for the state! Sacramento attorney Bill Palmer who has battled in a number of cases involving CA unclaimed money, sad that the state’s department was supposed to be a lost and found for California residents. Instead, it was turned into a profit earning ‘business’ in the past few years.

The hold on the seizure of property by CA has now been lifted and the new CA State Controller, John Chiang, is making greater efforts in the form of widespread reforms in improving how his office handles California unclaimed property. There’s still a dire need though for residents of California and the other 49 states across the U.S. to be informed about the presence of these monies and on how to perform a thorough search for them and take back what belongs to them.

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