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UNCLAIMED PROPERTY FOCUS is a blog written by and for UPPO members, featuring diverse perspectives and insights from unclaimed property practitioners across the U.S. and Canada. We welcome your submissions to Unclaimed Property Focus. Please contact Tim Dressen via tim@uppo.org with any questions about submitting a blog post for consideration and refer to our editorial guidelines when writing your blog post. Disclaimer: Information and/or comments to this blog is not intended as a substitute for legal advice on compliance or reporting requirements.

 

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City of Chicago Faces Accusations of Hiding Unclaimed Property

Posted By Administration, Wednesday, September 4, 2019

The city of Chicago is accused of failing to escheat more than 22,000 uncashed city checks totaling more than $11 million to the state of Illinois, according to a recent Chicago Sun-Times article. Class action attorney Clint Krislov discovered the checks as part of the discovery process for a longtime dispute with the city over retired city employees’ benefits.

 

On August 19, 2019, Krislov Law filed a complaint in the Circuit Court of Cook County against the City of Chicago for failing to comply with the Illinois Uniform Disposition of Unclaimed Property Act and the Revised Uniform Unclaimed Property Act.

 

The lawsuit accuses the city of using the funds as an indefinite “cash float” and failing to give the public an opportunity to find and claim the funds. 

 

According to the complaint, “[Freedom of Information Act] requests to a number of other Illinois municipalities show that the City of Chicago’s intentional omission of reporting these amounts is a deviation from the norm, rather than some justifiable exercise of the City’s home rule powers.”

 

Krislov reportedly told the Sun-Times that state attorney general was aware of the city’s unreported property and, thus, shared in the responsibility for not making it available for the owners to claim. 

 

Although he didn’t comment on the specific accusations raised by the lawsuit, representative for the Chicago Law Department Bill McCaffrey told the Sun-Timesthat the city has enacted its own unclaimed ordinances and procedures, which are not preempted by the Illinois Revised Uniform Unclaimed Property Act.

 

The lawsuit complaint awaits a response from the city of Chicago. 

 

 

Tags:  Chicago  Illinois  municipalities  unclaimed property 

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Unclaimed Property News Roundup

Posted By Administration, Wednesday, January 16, 2019

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 and national media outlets. 

 

Unclaimed property: It’s not just for individuals and companies

On Dec. 19, 2018, KMBC news in Kansas City, Mo., reported that the Kansas and Missouri unclaimed property owner lists included many schools and municipalities. In addition to the news story, reporter Matt Flener tweeted that more than 900 schools in Kansas are owed more than $143,000; more than 500 Kansas cities are owed more than $195,000; and Missouri has undetermined amounts owed to more than 600 schools and more than 1,400 cities.

 

Fraudsters hit Arkansas unclaimed property coffers

On Dec. 15, 2018, several Arkansas outlets reported that the state auditor’s office paid out at least $40,000 in fraudulent unclaimed property claims. The scammers used stolen identities to claim the funds. In response to the discovery, Auditor Andrea Lea told state officials her office had enhanced its verification process.

 

It’s not easy retrieving green

On Nov. 29, 2018, NBC Connecticut reported on challenges one of its viewers had claiming $138 in unclaimed property despite following the state’s instructions. The television station’s consumer reporter intervened and successfully helped the fund owner get her money.

 

Fame, fortune and uncashed checks

A popular, recurring unclaimed property news story highlights celebrities who appear on state unclaimed property lists. One of the latest examples of this appeared in the Nashville Tennessean on Nov. 21, 2018. The newspaper discovered that Tennessee’s unclaimed property list included two checks totaling $179 owed to musician Keith Urban, a $100 manufacturers rebate owed to singer Trisha Yearwood, and $150 in telecommunications payments waiting to be claimed by hockey player Pekke Renna.

Tags:  Arkansas  fraud  Kansas  Missouri  municipalities 

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