I-Cash

  • icash walletSenators Laura Murphy, Des Plaines, and Andy Manar, Bunker Hill, are working with Illinois Treasurer Michael Frerichs to return thousands of dollars in unclaimed property to constituents through the treasurer’s I-Cash program.

    By law, the state treasurer must safeguard unclaimed property until its rightful owner can be found. Currently, the Treasurer’s Office is holding approximately $2.7 billion in recovered cash and working with legislators to find its rightful owners.

    “In my district, I have been able to unite people with lost money: $40,000, $316,000, $356,000 in three instances alone,” Murphy said.

    As part of the I-Cash program, the Treasurer’s Office attempts to contact people who are owed unclaimed money and property. Frerichs said that it sounds odd, but giving people their money back is difficult because many people assume that the calls from the Treasurer’s Office are fraudulent. The treasurer works with Senators because they know their districts and are better equipped to contact individuals and businesses that are owed unclaimed property.

  • WolffSCHAUMBURG – When 91-year old Leroy Wolff received a letter in May stating nearly $40,000 in stock he owned had been transferred to Illinois’ unclaimed property division, he didn’t know where to turn.

    “The letter stated the account had been determined to be inactive due to correspondence from the company being returned,” Wolff said. “It didn’t make any sense. I was reading a letter from the company saying correspondence had been returned. I was dumbfounded.”