(Part 2 of 2)

One of the main reasons for the government’s inability to return forgotten money to its owners, according to the government, is the fact that they can’t be located. The issue is, who would 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 a number of other celebrities are some of the names in the Cali missing money database and yet they have never been contacted by the employees at the California Unclaimed Property Division. They are all owed checks for unclaimed money by Cali ranging in amount from hundreds to the thousands in Ms. Jolie’s case. 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 federal judge on CA abandoned assets, stating that the state was not making enough of an effort 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 reuniting it with the rightful owners was adopted.

The total dollar amount for these funds in California averages $5 billion annually – imagine the amount of interest this accrues for the state! Bill Palmer, an attorney in Sacramento who has fought in numerous cases involving CA unclaimed money, has said that the state’s department was supposed to be a lost and found for California residents. Sadly, it has been turned into a profit generating ‘business’ in the past few years.

The hold on the seizure of property by California has now been removed and the new CA State Controller, John Chiang, is making extra efforts in the form of widespread changes in improving how his office handles CA unclaimed money. There is 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 properties and on how to do a thorough search for them and take back what belongs to them.

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Have unclaimed money waiting for you? – KOMO News
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Unclaimed cash awaits these Mass. celebrities – Boston Herald
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