$10 bln worth of US stocks are unclaimed

Scott Howe from Drive Performance Media over MediaPost Behavioral Insider estimates the amount of "free money" in the United States. The SEC cannot locate approximately 3 mln lost shareholders, representing $10 bln in unclaimed stocks.

Scott Howe from Drive Performance Media over MediaPost Behavioral Insider estimates the amount of "free money" in the United States. The SEC cannot locate approximately 3 mln lost shareholders, representing $10 bln in unclaimed stocks. 87,500 tax refunds were returned to the IRS in 2004, totaling $73 mln. In the state of Texas alone, $72 mln of lottery winnings went unclaimed in 2003. An estimated $600 mln of un-redeemed store credits and gift certificates expired last year.