Iowa man refuses to claim $2 million he has coming from the state

Who wants to be a millionaire?

Certainly not the Storm Lake man who steadfastly refuses to claim the $2 million he has coming to him from the state.

State Treasurer Michael Fitzgerald currently holds $207 million, plus 2 million shares of stock, that belong to 823,000 different people and entities.

In addition to six- and seven-figure sums waiting to be claimed by Iowans, the Treasure Hunt holds unclaimed cash for some of Iowa's most high-profile citizens, including money owed to first lady Mari Culver and U.S. Rep. Steve King.

It's a mix of cash, stocks and property that insurers, banks, utilities and other companies have been unable to deliver to the intended recipients. The property has been turned over to Fitzgerald's office, which has, in turn, tried to track down the intended recipients as part of the Great Iowa Treasure Hunt program.

By far, the person who stands to gain the most from the Treasure Hunt program is an 85-year-old man living quietly in Storm Lake. County records indicate he has lived in the same $68,000 house for the past 33 years. He's fairly active and in recent years has been seen driving his 1990 Buick LeSabre around town. By all accounts, he's aware of the fact that the state is holding money for him - a lot of money - but has no intention of claiming it.

All told, the state is holding $1,632,427 in cash, plus stocks valued at $446,874, for this man. The Des Moines Register is not identifying him by name because he could be vulnerable to financial exploitation.

"We have made overtures to him," Fitzgerald said. "And we've had plenty of feedback from people in Storm Lake. He knows the money is there. It appears to be a situation of him not wanting to be bothered."

Deputy Treasurer Karen Austin says the office has talked to the man through an attorney who has indicated the man has no desire to claim his money. "From our perspective, of course, it doesn't really make sense," she said.