Columbia, SC (WLTX) - The South Carolina Treasurer has returned the largest amount of money ever to one man as part of their unclaimed property program.
The recipient, who wishes to remain anonymous, received more than $763,000 in unclaimed cash and stock proceeds. The treasurer's officers says these funds belonged to his father, who passed away more than 15 years ago.
Treasurer Loftis called their son first, and he thought it was a scam. When their son told them to call the State Treasurer, they almost didn’t believe him.
The treasurer says he's happy they called him back. “When I originally looked up the name, I found four different listings for it,” Treasurer Loftis said. “I was determined to find the right one, and I’m so happy that we are able to return the money to the rightful heir.”
The recipient doesn’t know what he’s going to do with the money, but is grateful for getting it. “We had no idea we had this much money waiting for us,” he said. “Treasurer Loftis did a great job of tracking us down to get the money back to us!”
Millions of dollars are transferred to the Unclaimed Property Program annually by companies that cannot locate the owners. Examples of the types of property covered by the Program include dormant bank accounts, stock certificates, uncashed checks (including paychecks), insurance proceeds and utility deposits.