06-15-2012 - Could Diamonds Be Yours? Take A Look At Unusual Unclaimed Property
A sack of loose diamonds, gold bars and a can of sardines are among the valuable and sometimes strange items that California Controller John Chiang is working to return to rightful owners.
The Controller's Office has received more than $6 billion in unclaimed property, which includes bank accounts, stocks, bonds, uncashed checks and safe deposit box contents. The property was sent to the State for safekeeping in cases where owners could not be found.
Between January 2007 and April 2012, Chiang reunited owners with more than $2.1 billion of property that had been lost or forgotten –- $1.3 billion that had been sent to the State, and $767.7 million that was reclaimed by owners from businesses before it was sent to the State.
During the first four years of his administration, Chiang also returned almost 157 million stocks and securities to owners, which is more than 25 times the amount returned to owners during the previous decade.