To The Editor:
I write to clarify aspects of Mary Johnson’s March 17th article about a recent audit of the state Treasury’s unclaimed property program. The article suggests that two cases of reported fraud came as a surprise to the Treasury.
The fact is that in both instances — one involving identity theft and the other false statements — the illegal activities were uncovered by Treasury employees. Once they were discovered, we referred both cases to appropriate law enforcement authorities to seek full restitution and prosecution to the fullest extent of the law.
I also think it’s important for your readers to understand that the audit in question was based on a period that happened two years ago. As state Treasurer and the head of a financial organization, I take audit findings quite seriously, and view them as opportunities for improvement in the way we conduct the business of the state. And that is what we have done.
In 2006 — long before the auditors’ report — we introduced a new and better claims management and processing system, and so far the results are good. This system is designed to speed the time it takes to return unclaimed property to its rightful owners, and to ensure the accuracy of the processing of claims.
Holding unclaimed property is a unique responsibility of government, and we’re dedicated to giving that money and other abandoned property back to people. Our staff is dedicated to that effort and works hard every day to provide prompt and courteous service.
We invite your readers to go to our Web site, ctbiglist.com, to see if they, too, might have unclaimed property.
Denise L. Nappier
State Treasurer
