13 WTHR - Indianapolis News |Indiana holding money for Mellencamp, Larry Bird

Indiana holding money for Mellencamp, Larry Bird

Indianapolis - Indiana is holding about $385 million in its unclaimed property fund, some of which belongs to well-known Hoosiers like John Mellencamp and Larry Bird.

Indiana Pacers President Bird has $80 in unclaimed cash, while rock star Mellencamp has $828 waiting for him, The Indianapolis Star reported. Former Indiana Pacers star Reggie Miller has four checks totaling $1,073 in the fund, and Colts defensive end Dwight Freeney is owed $526.

Even some government agencies have unclaimed money being held by the state. The Bureau of Motor Vehicles, for example, has more than $100 waiting for it. The cash-strapped Capital Improvement Board, which runs Indianapolis' professional sports stadiums, was happy to learn that it had $1,374 in unclaimed funds.

"Wow!" said Executive Director Barney Levengood. "That's great."

The state keeps unclaimed property for 25 years. The fund includes unpaid wages, old savings or checking accounts, stock dividends and insurance checks. If the money is never collected, the state keeps it, adding about $25 million each year to the general fund.

People can find money or property that belongs to them by searching www.indianaunclaimed.com or calling the Unclaimed Property Division at (886) 462-5246. Once people find unclaimed property, they can print a claim form, have it notarized and return it to the state to collect the cash.

The Unclaimed Property Division of the Indiana attorney general's office tries to help people search by publishing an annual list of unclaimed property.

Becky Yuan, director of the division, said the state tries to track down people who are owed more than $5,000. But the office can't track down everyone, even famous residents, she said.

"To be fair, they are a celebrity and you don't want to appear like you are giving preferential treatment," she said.

Even politicians have to search for their own money. State Treasurer Tim Berry recently checked the site and found he had two checks totaling about $400, he said. U.S. Rep. Andre Carson, D-Indianapolis, has $19 in the fund. Carson spokesman Justin Ohlemiller said Carson would let the state keep the cash.

Yuan said some people knowingly pass up small sums, but at least one person has about $1 million in unclaimed assets. Yuan said a Mooresville-area woman knows she can claim the money but has not sought it or told the state it can keep it permanently.

"She knows it's here. We know where she is," Yuan said. "She just doesn't want to claim it."

Indiana Unclaimed Property & Money

(Copyright 2009 by The Associated Press. All Rights Reserved.)