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Unclaimed Property News Roundup

Posted By UPPO, Friday, September 18, 2020
Updated: Thursday, September 17, 2020

Unclaimed property often makes news headlines, and UPPO occasionally provides a snapshot of some of the more interesting and entertaining stories receiving coverage from local and national media outlets.

Fall Reporting Tips

Unclaimed property professionals are gearing up for fall reporting season. On Sept. 10, with the help of UPPO member True Partners Consulting, CFO Daily News provided holders with tips for successful escheatment during the COVID-19 era.

The Charm of Small-Town News

Replacing some ratty carpeting or scratched up floor boards may not seem like the stuff of headlines, but it apparently is when you live in Pine Bluffs, Wyoming (population 1,169). Pine Bluffs Post reported on Sept. 10, 2020, that the Radcliffe family is using $4,071 in recovered unclaimed property for new flooring for their home.

He Probably Thought His Mom Threw Them Away

Many grown men have waxed nostalgic over how much their boyhood baseball card collections would be worth if mom hadn’t tossed them. Well, maybe she didn’t. On Sept. 9, Fox 2 Now in St. Louis reported on a citizen who was reunited with a forgotten collection of sports cards. The state of Missouri reunited Kevin Kelly with his collection, valued at tens of thousands of dollars, which had been stored in a safe deposit box before the owner forgot about it and lost contact with his bank.

Scam Accusations

Unclaimed property scams crop up with great frequency. The latest one making the news, reported on Aug. 23 by The Oklahoman, involves three men accused of diverting unclaimed oil and gas mineral interests. The three men allegedly funneled funds from suspended mineral rights accounts to bogus companies they created shortly before the property would have otherwise been escheated to the state.

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