St. Louis resident gets $1.6 million in unclaimed property

11:57 AM, Jan 20, 2010   |    comments
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JEFFERSON CITY, Mo. (AP) -- A St. Louis area man has a received a record $1.6 million from Missouri's unclaimed property division.

Treasurer Clint Zweifel says the payout is the largest single account ever returned to an individual in Missouri. Zweifel's office did not identify the recipient.

The cash accumulated from stocks and dividends and had been unclaimed since 2007.

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The treasurer's unclaimed property division holds onto the contents of bank accounts, stocks, bonds and insurance policies that have had no transactions or contact with the owner for at least five years. It returns the money to people when they come forward to claim it.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

Associated Press

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