Nov 28, 2024
Last March, a southern California man received a box in the mail from the State Controller’s Office. The package was supposed to contain items from a late family member’s unclaimed safety deposit box.
But he noticed some items were missing — specifically, five diamonds.
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He alerted the State Controller’s Office and, according to a report from KCRA 3, the agency then went to check its surveillance cameras to get to the bottom of it.
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“That’s when they discovered that there was suspicious behavior by one of the employees,” California Highway Patrol Office Anthony Ruiz told KCRA 3.
What happened?
The CHP did some digging and noticed something odd on security cameras. Miguel Espinosa, a mailroom employee at the State Controller’s Office, was seen moving items around away from the cameras in a suspicious manner.
When they exercised the search warrant at Espinosa’s home, they found the missing diamonds, as well as other items from about 12 victims. It appears that the thefts occurred over a period of seven years or more.
“The volume was massive,” California Highway Patrol Officer Anthony Ruiz told KCRA.
The one detail that puzzled investigators is that It doesn’t appear Espinosa ever sold any of the stolen items. He just kept them in his home.
Ruiz told reporters, “Was he getting some sort of thrill out of doing it? He did it once and just kept doing it? Those are questions that I don't have the answers to.”
While unclaimed property can refer to physical items, it could also be money from a returned check, interest in a bank account that was closed or a refund. It can also mean inherited property when the company or financial institution can’t find the next of kin.
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While the District Attorney’s office charged Espinosa with 22 counts of theft, he took a plea deal for three counts, in exchange for serving 20 months in jail. KCRA 3 reports he should be released in January 2025.
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What is Unclaimed Money?
In California, the State Controller’s Office is responsible for holding unclaimed or inactive property, including money.
Even if you think you don’t have unclaimed property, it never hurts to check. According to missingmoney.com, about one in seven people have unclaimed funds or items.
Start by looking at the national unclaimed property database at missingmoney.com. When you search, try to use any version of your name, not just your legal name.
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However, not all states participate in that database. Make sure to also look at your state’s unclaimed property database, which you can find here. It’s not just about where you’ve lived or worked. It can also be where a company was headquartered.
Set a reminder in your phone or calendar to check the database once a year; it can take several years for an item or dollar amount to be turned over to the state controller’s office. Also, if you have a spouse, child or elderly parent, you can see if they have any unclaimed property.
If you see something that belongs to you, you will have to file a claim with the state. This often entails inputting personal information, including your:
- Full legal name
- Date of birth
- Current address
- Social Security Number
You will also have to designate if you’re the owner, heir, trust, or business owner, etc. It’s much easier to qualify for the unclaimed property if you’re the current rightful owner. If you’re an heir, you may have to provide documentation to back up your claims.
Once the claim is approved, it can take several days, weeks or even months before you receive a check or a package. Set a reminder to check the status. Sometimes, you’ll have to provide additional proof, like a copy of your driver’s license or a former lease that shows you lived at the stated address.
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Zina Kumok is a freelance writer, editor and speaker specializing in personal finance. A former reporter, she has covered murder trials, the Final Four, and everything in between. She has been featured in U.S. News & World Report, Forbes Advisor, and Bankrate.
