A settlement with the state Treasurer’s office could mean that some customers of the cellular carrier Sprint could be getting some cash.
Sprint has agreed to pay $2.3 million and provide the names of 32,000 customers who did not cash rebate checks sent to them between 2003 and 2011, Illinois State Treasurer Michael Frerichs and Sprint said in a joint statement announcing the settlement, in which the company admitted to no wrongdoing.
Frerichs’ office pursued Sprint and its clearinghouse vendor, Young America Corp. of Minnesota, asserting that rebates are considered unclaimed property if not paid within five years and must be reported and paid to the state treasury so they can be returned to their owner, which he says the companies did not do.
Under the agreement, Sprint will provide the names of customers who did not cash rebates, which will be then included in the state treasurer’s unclaimed property database, which can be searched at the treasurer’s office or www.illinoistreasurer.gov/ICASH. No timetable was provided for adding names to the database to claim unpaid rebates.