NEW YORK TIMES: For years, Jerry Seinfeld and Joan Rivers, and as many as 6,914 other customers, have never claimed refunds due them from Bergdorf’s. General Motors has been in hock to Rupert Murdoch for nearly a decade. Russia’s mission to the United Nations is still hoarding unredeemed gift certificates from BJ’s Wholesale Club…
These are just a few names culled from as many as 31 million owners of accounts held by New York State as unclaimed property — accounts surrendered by banks, insurers, utility companies and others that said they had tried but failed to find the rightful owners of deposits, dividend checks, back wages, rebates and other forgotten funds, which have grown to a record $13.3 billion…
The potential windfall from misplaced money stretches well beyond New York. Nationwide, states hold more than $62 billion — more than the individual general fund budget of all but California. The District of Columbia’s unclaimed property database even includes a “Barrack Obama at 1600 Pennsylvania Ave.” … (more)
