In West Virginia they set a new record with the largest unclaimed money payout to a single claim in their history. According to a report, Thomas Hunter was presented with a check for over $1.7 million in lost money. His parents had set up a trust in his name and as is the case most of the time, the money got lost over time. Eventually it was turned over to the unclaimed money department in West Virginia where it stayed until Thomas claimed it. He said he knew his parents had some investments but was definitely surprised by just how much money was there.
West Virginia has had some large claims in the past, but nothing this high. According to the state treasurer, John Perdue, his office has issued 20 checks over $250,000 totaling $9 million. Thats an average of nearly $450,000 per claim.
Currently West Virginia is holding over $300 million in lost money and property. The average claim is almost $150 with some claims being much more. In FY 2018 they returned nearly $18 million in missing money and property. The state website does show the total returned as $191 million, which we believe is since the program either started or began keeping track of money returned.
For more information visit our West Virginia state page.