Former State Treasurer Takes on Clients’ Unclaimed Property Needs
HERNDON, VA, October 9, 2018 – David Lemoine, three-term state treasurer for Maine and a three-term state representative, now leads the Finance & Revenue Solutions division of Avenu Insights & Analytics (Avenu).
Lemoine oversees the company’s initiatives under which state residents claim lost property. Avenu’s software and services help states gather, track and manage unclaimed property, then return the property to the rightful owners.
“More than $3 billion in unclaimed property was returned to citizens in 2015 as a result of state administrative diligence,” says Lemoine, “and states need support to manage the reporting, custody, claims verification and payment processes. Avenu’s workflow, search capability and paperless claims process have the right level of automation and simplicity. And the same is true for Avenu’s escheatment solutions, which enable corporate holders of unclaimed property to comply with the unclaimed property laws of each state in which they do business.
Avenu manages more than 100,000 unclaimed property inquires each year through sites such as MissingMoney.com, the only unclaimed property website endorsed by the National Association of Unclaimed Property Administrators.
Comments Avenu CEO Paul Colangelo, “David’s perspective as a state treasurer helps clients understand that unclaimed property doesn’t have to be the burden it once was. This will become a growth vehicle for Avenu.”