General Nutrition Inc. owes Pennsylvania big bucks.
This could be a hard pill to swallow for General Nutrition Inc., owner of GNC stores. The company owes the state more than $4 million in unclaimed property that belongs to Pennsylvania consumers, vendors and employees.
The money is from uncashed checks, unredeemed gift certificates and credit balances, said Robert P. Casey Jr., who audited General Nutrition Inc.
“By law, companies operating within the Commonwealth must turn over money and property to the state that has gone unclaimed,” Casey said.
The audit revealed that General Nutrition did not have policies to ensure unclaimed property was properly remitted to the state. Casey recommended the company establish procedures to remedy the problems.
The state’s Unclaimed Property Act allows the treasurer to examine records of any holder of unclaimed property. Casey has beefed up the department’s audit and investigative bureaus since taking office last year. So far, auditors have concluded $12.6 million in unclaimed property is owed to the state, of which General Nutrition’s portion is the largest.
If you feel you may have a claim to this money or other money the state may be holding , Cash Unclaimed Money Search can help. Here you will find the largest unclaimed money database, including all state and federal databases. You will also be guided on how to claim the unclaimed property.
