TREASURER CAHILL ANNOUNCES SPRING PUBLICATION OF ABANDONED PROPERTY LISTINGS FOR MASSACHUSETTS

Over $35 million in new unclaimed property accounts owed to individuals and businesses

BOSTON, February 25, 2010 – Two former Celtics and longtime National Basketball Association leaders should be soon netting some unclaimed money. Don Nelson, former Celtic great and present coach of the Golden State Warriors, and one time Celtic and Basketball Hall of Famer Wayne Embry have abandoned property to claim with State Treasurer Tim Cahill.

A new publication, which lists 40,000 new individuals, charities and businesses, is now out. Some of the famous new names in the publication include former Boston Globe and Sports Illustrated Columnist Leigh Montville, Sixth District Congressional Candidate Bill Hudak, Michael Andelman of the Phantom Gourmet, and the Boston Phoenix. In addition to the two former Celtics, the Boston Celtics Charitable Foundation is 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 www.findmassmoney.com.”

The newly released list includes 20 accounts over $100,000, 37 accounts between $50,000 and $100,000, and more than 1,300 accounts in excess of $5,000. In addition to bank accounts, the new accounts include 214 abandoned safe deposit boxes, 323 owners of mutual funds and 4,543 owners of stock.

Since Treasurer Cahill took office, the Abandoned Property Division has returned over $330 million and over 4 million shares of stock 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 close to $600,000 for the state.

Beginning with the publication’s inclusion in the Boston Globe on Sunday, February 28th, citizens will have the opportunity to identify any unclaimed funds. The insert will accompany the Boston Herald on Sunday, March 7, 2010. Local listings of names will appear in the following papers on selected dates between March 17th and March 19th:

Arlington Advocate
Attleboro Sun Chronicle
Belmont Citizen
Berkshire Eagle
Brockton Enterprise
Cape Cod Times
Country Gazette
Daily Hampshire Gazette
Daily News of Newburyport
Dover Sherborn Press
Eagle Tribune
Fall River Herald News
Fitchburg Leominster Sentinel
Gloucester Daily Times
Lowell Sun
Lynn Daily Item
Malden Evening News
Medfield Press
Metrowest Daily News
Natick Bulletin
Nantucket Inquirer
Needham Times
New Bedford Standard Times
Patriot Ledger
Salem Evening News
Springfield Republican
Taunton Daily Gazette
Vineyard Gazette
Westwood Press
Woburn Daily Times
Worcester Telegram

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 April 10, 2010: Monday through Friday from 8:00 am to 8:00 pm, and Saturday from 9:00 am to 4:00 pm.

###

Leave a Reply

Your email address will not be published.