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Unclaimed property scams surface
By Staff reports

May 29. 2014 9:39AM
South Dakota Treasurer Rich Sattgast is warning residents about unclaimed property scams.

Sattgast said people who have been contacted by companies claiming they can assist in returning unclaimed property should contact the treasurerís office to verify itís a legitimate business.

He said the companies known as asset locators provide this service for a fee, but some are scams.

Sattgast said most legitimate locators charge between 15 percent and 25 percent of the recovered value with contracts that last for several years.

People can check if they are owed money from the state using the Treasurerís Office website.

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