Kentucky Treasurer Warns "Beware Of Treasure Scammers"

(wtvq)
(wtvq)
Reported by: Tom Kenny
Set Text Size SmallSet Text Size MediumSet Text Size LargeSet Text Size X-Large
Share
Updated: 7/15/2013 7:40 pm

Kentucky Treasurer Todd Hollenbach is informing the public that several business firms are using the "Freedom of Information Act" to obtain unclaimed property owner information in order to "sell" individuals an unclaimed property search.

Treasurer Hollenbach states that, in addition, there are also businesses, sometimes called "finders" or "locators," that find legitimate lost property for owners and offer to help them obtain it for a fee, usually a percentage of the total.

The majority of firms that provide these services work within the law, but there are also many unclaimed property scams across the country, according to Treasurer Hollenbach.

Treasurer Hollenbach recommends caution, “The bottom line is that all the information is accessible free of charge by searching our secure website, or by contacting our unclaimed property office here at the Treasury in Frankfort. A person may pay someone to search and help file a claim if one wishes, but it is truly unnecessary given the high quality of assistance and accessibility we provide at Treasury.”    

Once a claim is filed, it is processed by Treasury employees for a maximum fee of one ($1) dollar that is deducted from the value of the claimed property.  “Unfortunately, the popularity of our Treasure Finders program and the amount of money involved has created a cottage industry of people offering to serve as intermediaries for a fee.  Some of these intermediaries seek to convince people that their services are necessary to reclaim their property, and their fees are often excessive.  My hope is that no one has fallen victim to one of these dubious enterprises.  To ensure that people are not being taken advantage of, I encourage them to only go to our secure website or to call us here in Frankfort if they don’t have internet access.”

Through his unclaimed property program, Treasure Finders, Hollenbach has returned over eighty-four million ($84,000,000) dollars of lost and abandoned property to thousands of Kentuckians and is still in possession of more than four hundred million ($400,000,000) dollars which he hopes to return to its rightful owners.  “These record breaking results have been achieved by utilizing a vast network of volunteers who spend time calling members of their community as part of our Treasure Finders initiative.” Hollenbach added. “Once those people are reached by our volunteers, they are put in contact with a member of our highly capable and helpful staff within the unclaimed property department, who walks each person through the entire process to make it as easy as possible to reclaim their property,”

Treasurer Hollenbach created the Treasure Finders program in Kentucky as a proactive way to reach out and let Kentuckians know about lost money and other assets being held for them by their state treasurer.  This year marks the 5 year anniversary of Treasure Finders

To securely search for unclaimed property, visit www.missingmoney.com or call toll free 1-800-465-4722

 

Share
0 Comment(s)
Comments: Show | Hide

Here are the most recent story comments.View All

No comments yet!
Most Popular
2014 36 Blitz: Corbin Redhounds
Perennial power under new leadership with unlikely connection to the program. Video Video
Police: Vehicle Runs Over Man During Delivery at Paul Miller Ford
According to Lexington Police, a man was working a delivery in the back of Paul Miller Ford when a vehicle rolled over his legs.
Kentucky town stuck with school after court order
A southwestern Kentucky community is stuck with an unused school at the moment after a judge issued an order stopping its sale for the moment.
Police: Couple Admits to Feeding 4-Year-Old Hot Sauce & Vinegar as Punishment
A mother and her boyfriend have confessed to forcing their four-year-old to eat hot sauce and vinegar as punishment, according to an arrest warrant.
Blue Grass Stakes Winner Euthanized After Training Accident
The horse that won the Blue Grass Stakes at Keeneland in April was euthanized after a training accident. Dance With Fate was galloping at Del Mar in California early Thursday morning when he bolted to the outside fence near the far turn, crashed into the fence and fell.
Inergize Digital This site is hosted and managed by Inergize Digital.

WTVQ.com supports children's privacy rights. All persons under the age of 13 MUST have parental permission to use this website and direct parental supervision is strongly recommended.