(Des Moines, Iowa) More than 61,500 Des Moines residents have refunds coming to them from the Kragnes class-action lawsuit over utility franchise fees collected years ago. State Treasurer Mike Fitzgerald tells WHO Radio News it adds up to nearly $12 million.
He says most of the refunds range from $10-to several hundred dollars, with the average around $100. He says some businesses have very large refunds, Con Agra has a $300,000 refund.Fitzgerald says they must return the money to residents within 18-months.
To check the list of names, log on to www.greatiowatreasurehunt.gov.
The city of Des Moines has been trying to locate thousands of residents owed refunds, after a $40 million court decision years ago. The court battle went on for years, starting with a trial, and then appeals to the Iowa Supreme Court.
Additional information from State Treasurer's Office:
Businesses and individuals who joined the class action were required to make a claim. Some made the claim and were paid; others either did not make their claim or the check for their claim was never cashed. At the conclusion of the claim period, the court ordered that the funds be turned over to the state treasurer's office and made part of the Great Iowa Treasure Hunt for a period of 18 months in a final effort to return the funds to the class members. Any claim over $10 is now available.
"We are expecting a large number of these properties to be claimed, given the success rate of the Great Iowa Treasure Hunt," Fitzgerald added.
Claimants may be required to provide documentation showing that they lived at, or owned, the address reported.
If an individual has died, the heirs to that property can claim the funds. In addition, if a business has closed or changed owners, additional documentation will be requested to verify the proper owner.