The State Treasurer’s Office returned a record-setting $83.5 million to rightful owners of unclaimed assets during the 2012 fiscal year, shattering last year’s record high by more than $30 million.
This historic payout was due in large part to a claim for $32.8 million — the largest single claim for unclaimed property in Connecticut’s history, State Treasurer Denise L. Nappier reported. The $32.8 million claim was for proceeds from the sale of 1,259,925 shares of stock received by the Treasury in the name of one person. The owner, who has asked to remain anonymous, was listed on the Treasury’s Unclaimed Property website, www.CTBigList.com, and the owner’s broker of record contacted the Treasury to make a claim.
The Treasurer’s Office reported that from lists published in the state’s general circulation newspapers in October 2009 and November 2011, in accordance with state law, two consecutive record-breaking years in the return of assets to rightful owners resulted. As part of response, there were:
- Over 1.1 million searches on the Treasury website, www.CTBigList.com
- 147,914 claims filed
- 86,196 phone calls to the toll free information number, 1 800 833 7318
The Treasury also noted that during FY 2012 alone, the unclaimed property division collected $96 million in unclaimed property for deposit into the state’s general fund – funds not yet returned to rightful owners who have not come forward – which exceeded budgeted projections by more than $11 million.
Since Nappier took office in 1999, the Treasury’s Unclaimed Property Division returned in excess of $362 million to nearly 210,000 individuals, businesses and organizations.