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Unclaimed Property News Roundup

Posted By Administration, Friday, February 7, 2020

Unclaimed property often makes news headlines beyond the frequent reports of states trying to return money to their citizens. Following is a recap of some recent stories getting news coverage from local media outlets. 

 

Judge Resigns Over Unclaimed Property

On Feb. 6, 2020, the Atlanta Journal-Constitution reported on a Georgia Superior Court judge who agreed to resign from the court after being accused of pocketing unclaimed property. In 2017, a clerk notified the judge she planned to turn over abandoned funds from a 2002 case in which he served as a private attorney. His clients had placed funds into the court’s registry while the case was pending but never reclaimed them once the case was dismissed in 2009. The judge allegedly told the clerk to release the nearly $16,000 to him instead. 

 

Louisiana Officials Fight for Control of Unclaimed Funds

A battle is raging in Louisiana over whether the state can spend unclaimed funds. According to a Feb. 4, 2020, Minden Press-Herald article, the governor’s administration plans to sue the treasurer over his refusal to turn over approximately $25 million in abandoned funds held by the state to the general fund. The treasurer maintains that the state does not have the right to spend unclaimed property. 

 

Unclaimed Property Program Ads Cause Conflict

Unclaimed property is at the heart of a complaint by a Nebraska watchdog group against the state treasurer, according to a Jan. 7, 2020, Lincoln Journal Star report. The complaint alleges that the treasurer contracted with a former employer to produce ads promoting the state’s unclaimed property program without filing a conflict of interest statement with the state. 

 

Unclaimed Property Awaits Towns and Cities

Citizens and businesses aren’t the only parties with unclaimed property held by states across the nation. A Jan. 31, 2020, story by WMUR 9 TV revealed that New Hampshire is holding funds belonging to 126 of its municipalities. 

Tags:  unclaimed property 

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