Treasurer's staff finds unclaimed cash for more than 20 state lawmakers

Friday, June 1, 2012

(Columbia, SC) – State Treasurer Curtis Loftis announced results of an experimental social media push that encouraged citizens to check the Treasurer’s website for unclaimed property. The Treasurer also checked South Carolina State lawmakers finding 23 members are on the list: 17 State Representatives and six State Senators.

“This demonstrates how important the Unclaimed Property program is and just how many people are owed money,” Treasurer Loftis said. “If a simple search of state lawmakers uncovers nearly two dozen names, imagine the numbers of people who are owed money statewide. This is why it is vital that the Treasurer’s Office has all of the tools available to return money to its rightful owner.”

The state Senate passed a proviso allowing the Treasurer’s Office to join 40 other states in a multi-state audit of major out of state companies, like insurance, mortgage and brokerage companies, which are most likely to be holding unclaimed property. The bill is awaiting House approval.

In the past 10 years, $80 million has been returned to South Carolina citizens. Over that same time period, nearly $175 million has been remitted to the general fund of the state that could be used to pay for education, healthcare and law enforcement. In fiscal year 2010-2011, the program paid out $12.6 million to rightful owners and turned over another $15 million to the general fund. Currently, the state is holding nearly $300 million in unclaimed funds.

Using the Treasurer’s Twitter handle, @Treasurerloftis, this search uncovered money for state lawmakers, lobbyists, a state Party Chairman, a Columbia newspaper journalist and a notable political blogger.

“In this special experiment, we were able to uncover amounts ranging from $104 to $8,000, “Treasurer Loftis said. One of the best parts of my job is returning money to rightful owners. I encourage everyone to go to the Treasurer’s website, www.treasurer.sc.gov and check their name on the Unclaimed Property link. We are hopeful with expanded abilities; we will be able to return even more money to the citizens of South Carolina.”

CLICK HERE to see the list of state lawmakers on the Unclaimed Property list.

CLICK HERE to search for unclaimed property using treasurer.sc.gov.

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Interim Media Contact:
Edward Frazier
edward.frazier@sto.sc.gov
803.734.2016

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