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report scam| Country | United States |
| State | Pennsylvania |
| City | King of Prussia |
| Address | 640 Freedom Business Center 6th Fl. |
| Phone | 1.888.876.7635 |
| Website | http://www.legalclaimantservices.com/ |
Legal Claimant Services Reviews
Legal claimant services, a division of keane Parent company venio llc -holding company) contacted me out of the blue about an unclaimed asset belonging to my deceased parents. They wanted a 40% cut of this asset, which they stated was valued at approximately $8,900, to locate it for me. I happen to be an attorney, so i am the wrong person to try to scam. Every state's treasurer maintains an on-line list of unclaimed property which can be retrieved by the individual owner at no charge. Everyone should actually check these lists from time to time just in case.) corporations holding unclaimed property are required to report these assets to the appropriate state when they cannot locate the owner themselves. This is where venio/keane/legal claimant services comes in. They solicit corporations to provide them with their lists of unclaimed property, and they locate the owners.
I live in texas, and contacted the state treasurer All of them are now on line, as are their unclaimed property lists, and are easily located for free). I was told that in texas, these "finders" are limited by texas statute to a fee of no more than ten percent of the value of the asset, and that ten percent has to include their alleged expenses, which cannot be billed over and above their ten percent cut. However, my father's asset was not listed either in texas or any other state. And why is that? Well, venio/keane/legal claimant services claims they have special arrangements with various corporations to obtain lists of their unclaimed property in advance of the date these corporations are required by law to submit their lists to the appropriate state that is the last known location of the unclaimed property owner. So eventually this assets would have had to be reported to the state annually; and one option would have been just to wait for that to happen and claim the asset on my own that way.
But i then commenced what turned out to be an increasingly contentious email correspondence with venio/keane/legal claimant services, informing them of their violation of texas statute, and to make a long story short, this was escalated to their legal department, which ultimately capitulated and told me that my father's asset was being held by wells fargo; i was threatening litigation to force disclosure of this information and they just did not want to deal with me anymore. This floored me because i had managed my deceased parents' affairs for many years and knew that they had banked at wells fargo for literally decades, so all wells fargo had to do was look at their records for my parents' address and phone number and pick up the freaking phone to inform them of this "lost" asset. But it turns out that there is extreme weirdness on wells fargo's end as well, because the entity that supposedly holds this asset is wells fargo shareholder services, which claims Incredibly!) not to be affiliated with wells fargo bank, and claims not to have access to wells fargo bank customer information--which i find astonishing. This is an entirely different aspect to this entire ripoff, and if wells fargo does not behave itself,
In the meantime, wells fargo shareholder services Which has now sent me the forms i have to fill out to claim this asset) has admitted that they "use" venio/keane/legal claimant services as their finder. However, i have spoken with various wells fargo people in the process of tracking this asset down, and absolutely all of them have expressed shock and surprise that their "finder" is demanding these huge percentages--in this case in violation of texas law--from their wells fargo "lost" customers.
As of today, i am in the process of filling out the wells fargo shareholder services forms and gathering the documentation to claim this asset myself And by the way, this procedure is unnecessarily convoluted and complex as well). So watch this space--more will be revealed. If this claim process does not go well, both wells fargo and their "finder," venio/keane/legal claimant services, may find themselves as co-defendants in a federal lawsuit in texas.
A cherry on top of all this is that the locator services group Tlsg), another "finder" outfit, sued "venio, llc d/b/a keane" in massachusetts superior court, civ. No. 11-0686 Which was later removed to federal court) for absolutely outrageous alleged behavior during the process of venio's proposed acquisition of tlsg; it is alleged that venio/keane, in the process of "due diligence" in connection with the proposed acquisition, was stealing tlsg's clients, using confidential information that tlsg was required to disclose in connection with the acquisition.
Moral: do not deal with these people before you check with your state treasurer's office; and their fee percentage is negotiable in any event. I eventually got them down to 15% but they refused to go down to the 10% cap that texas law requires--i would have been willing to pay that just to avoid the hassle. For that measley five percent difference, in my case less than $500, they have gotten themselves enshrined on this ripoff list, and i am not even close to being finished with them yet.