States To Sue Delaware Over Millions Of Dollars In Unclaimed Checks

“Under federal law and under our own state laws, any of those monies that originated our states, should fall under our own abandoned and unclaimed property statutes”. But it was not until 21 other states brought in an outside auditor that they found what MoneyGram, at the direction of Delaware, had been doing. “We’re just trying to get what is owed to us”. The coalition is asking the Court to order the appropriate repayment to plaintiff states by Delaware and seeks the right to all future similar abandoned and unclaimed property.

According to a news release citing Thursday’s action, the error was based on a mistaken belief that such property was to be turned over to the issuing company’s state of incorporation, which in this case is Delaware. The Durango Herald (http://bit.ly/1PiNgvT) reports that Marine Capt. Jeff Kuss will be buried in a private ceremony Saturday there. “The bottom line is simple: Delaware is ignoring federal law for financial gain”.

Colorado Republican U.S. Senate candidate Jon Keyser on Thursday defended combat service in Iraq that earned him a Bronze Star Medal _ service he repeatedly cites to bolster his national security credentials _ after fellow candidate Darryl Glenn questioned his military record.

Beshear says he believes federal and state laws provide that property should be turned over to the state where the property was purchased.

The coalition filed the lawsuit in the United States Supreme Court.

For example, if a traveler’s check is not cashed within 15 years it is presumed abandoned. And a safe deposit box is considered abandoned if the rent goes unpaid for three years.

Laux said some efforts by the Department of Revenue to find owners are direct, like sending letters to the last known address of the presumed owner. MoneyGram backs the “official check” and pays the amount only when it is presented.

“This property rightfully belongs to the people of Kentucky”, said Allison Ball, state treasurer.

That’s where the other half of the issue comes in.