September 09, 2010 – For immediate release:
Over $13.5 million in new unclaimed property accounts owed to individuals and businesses
BOSTON, September 9, 2010 – What do New England Patriots Head Coach Bill Belichick, Former First Daughter Chelsea Clinton, and the Bachelorette, Ali Fedotowsky have in common? They should be soon netting some unclaimed money from the Massachusetts Abandoned Property Division.
Belichick, Clinton, and Fedotosky join some 40,000 new individuals, charities and businesses that have abandoned property to claim with State Treasurer Tim Cahill. Some of the famous new names in the publication include Tony Allen, Henry Louis Gates, Ted C. Johnson, Max Kennedy, Cornel West, Glenn Ordway, Luis Tiant, and Seiji Ozawa. In addition to these individuals, the Boston Red Sox are due some unclaimed cash.
Abandoned Property includes forgotten savings and checking accounts, uncashed checks, insurance policy proceeds, stocks, dividends and contents of abandoned safe deposit boxes. After three years of no customer-generated activity, most accounts are considered “abandoned” and are turned over to the Treasury. An updated list of abandoned accounts is published twice annually as new accounts are turned over to the Commonwealth. There is no time limit to claim abandoned property and, in many cases, claimants will receive interest.
“Our goal is to get the people of Massachusetts the money that is owed to them,” said Treasurer Tim Cahill. “I urge all businesses and individuals to check the Abandoned Property list and visit our website at findmassmoney.com.”
The newly released list includes 2 accounts over $100,000, 3 accounts between $50,000 and $100,000, and more than 250 accounts in excess of $5,000. In addition to bank accounts, the new accounts include 100 abandoned safe deposit boxes, 25 owners of mutual funds and 7,652 owners of stock.
Since Treasurer Cahill took office, the Abandoned Property Division has returned over $373 million and over 7 million shares of stock and mutual funds to rightful owners.
In 2009, $58 million dollars and 543,146 shares of stock were returned, marking one of the Division’s most successful years to date. The Treasury has also employed cutting-edge technology to hold eBay auctions of unclaimed jewelry, coins and other items from safe deposit boxes, garnering over $1 million for the Commonwealth.
Beginning with the publication’s inclusion in the Boston Globe on Sunday, September 12, 2010 citizens will have the opportunity to identify any unclaimed funds. The insert will accompany the Boston Herald on Sunday, September 19, 2010. Local listings of names will appear in the following papers on selected dates between September 29th and October 1st:
Attleboro Sun Chronicle
Cape Cod Times
Daily Hampshire Gazette
Daily News of Newburyport
Dover Sherborn Press
Fall River Herald News
Fitchburg Leominster Sentinel
Gloucester Daily Times
Lynn Daily Item
Malden Evening News
Metrowest Daily News
New Bedford Standard Times
Salem Evening News
Taunton Daily Gazette
Woburn Daily Times
To see if you have abandoned property, please visit www.findmassmoney.com or call 888-344-MASS. Both the call and website are free of charge. The Abandoned Property Division has extended telephone hours through October, 23 2010: Monday through Friday from 8:00 am to 8:00 pm, and Saturday from 9:00 am to 4:00 pm.