Report: Even After Millions In Payouts New York Holds $13.3-Billion In Unclaimed Funds
NEW YORK(CBSNewYork) — What do Madonna, Jerry Seinfeld, and Rupert Murdoch have in common? New York has money that it’s been trying to give them.
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As WCBS 880’s Ginny Kosola reported, New York paid out hundreds of millions of dollars in unclaimed funds in 2013. It wasn’t enough to make a dent in the massive account.
New York’s unclaimed property fund is up to $13.3-billion, according to the New York Times. The list of those owed money includes Bill and Hillary Clinton, Joan Rivers, Jerry Seinfeld, Madonna, and Rupert Murdoch.
The money often sits in an account because someone died or moved and is owed a rebate, utility deposit, or estate claims.
The amounts are usually under $100, but payouts from stock accounts can top $1,000,000.
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