Millions of dollars are owed to mid-southerners

(WMC-TV) – Millions of dollars of unclaimed money is owed to Mid-Southerners and now officials are trying to track those people down.

The Mississippi Secretary of State Delbert Hosemann said his office has been trying to contact account holders by mail and by phone. Those account holders are owed money.

Hosemann is asking one last time for people to come forward and claim what is rightfully theirs.

"These $200 million that will be distributed, will be distributed to all claimants," he said.

During a news conference Thursday, Hosemann announced several Mid-South states successfully negotiated a settlement on behalf of investors who invested in certain Morgan Keegan bond funds.

But Hosemann said that money cannot be distributed unless you come forward.

"You need to apply, otherwise you neighbor is going to get your distribution," he explained.

About 35,000 to 40,000 account holders are owed a portion of the claim.

"Half of these individual accounts are about $10,000 or less, so these individuals should expect to receive about a $1,000 to $2,000 checks, so it would be very much worth their while to do that," said Hosemann.

He said for some, the Morgan Keegan investments were their life savings and retirements funds. For those people, he says, the money is a part of their livelihood.

Investments were nationwide but Hosemann says the tri-states were hit hardest.

"In Mississippi, we had about 5 to 8 percent of the total accounts were in Mississippi. The largest was Tennessee."

The deadline to apply is June 16, no exceptions.

"And it would be very disappointing to me that someone didn't get their money either because they procrastinated, or didn't understand the form, or someone didn't help them or call them," said Hosemann.

If you are unsure if you have a stake in Morgan Keegan claims, you are urged to call the secretary of state's office toll free at 888-208-9083.

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