Treasurer Cahill Announces Spring Publication of Abandoned Property for Massachusetts

Some famous names are on the list of over $30 million in new unclaimed property

BOSTON, February 26, 2009 – The Boston Bruins, Boston Celtics, Boston Red Sox, and New England Patriots all have something in common, other than being Championship teams from Massachusetts. The players, owners or organizations all 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 and in the abandoned property database include: Bruins Legend Ray Bourque, Celtics Managing Partners Wyc Grousbeck and Steve Pagluica, former NBA Star Rick Fox, Red Sox President and CEO Larry Lucchino, Sports Broadcasting Legend Peter Gammons and the New England Patriots.

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 13 accounts over $100,000, 32 accounts between $50,000 and $100,000, and a total of 555 accounts in excess of $5,000. In addition to bank accounts, the new accounts include 2,210 abandoned safe deposit boxes, 84 owners of mutual funds and 1,636 owners of stock.

Since Treasurer Cahill took office, the Abandoned Property Division has returned over $290 million to rightful owners. 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 $500,000 for the state.

Beginning with the publication’s inclusion in the Boston Globe this Sunday March 1, 2009 citizens will have the opportunity to identify any unclaimed funds. The insert will accompany the Boston Herald the following Sunday, March 8, 2009. Regional newspapers will carry the names of the owners in their readership areas during the third week of March on the following dates:

March 18, 2009:

Berkshire Eagle
Brockton Enterprise
Fitchburg Sentinel & Enterprise
Malden Evening News
Metrowest Daily News
New Bedford Standard Times
Patriot Ledger
Taunton Daily Gazette
Woburn Daily Times

March 19, 2009:

Arlington Advocate
Belmont Citizen
Dover-Sherborn Press
Lowell Sun
Medfield Press
Nantucket Inquirer
Needham Times
Springfield Republican
Westwood Press
Worcester Telegram & Gazette

March 20, 2009:

Attleboro Sun Chronicle
Cape Cod Times
Country Gazette
Daily Hampshire Gazette
Daily News of Newburyport
Eagle Tribune
Fall River Herald News
Gloucester Daily Times
Lynn Daily Item
Natick Bulletin
Salem Evening News
Vineyard Gazette

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 11, 2009: Monday through Friday from 8:00 am to 8:00 pm, and Saturday from 9:00 am to 4:00 pm.

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