OST warns IIM account holders of potential scam

The Office of the Special Trustee for American Indians says firms may be trying to exploit Individual Indian Money (IIM) account holders.

OST has received reports that one firm is contacting people with whereabouts unknown accounts and charging them a fee to recover the money. Another firm is claiming power of attorney over people with whereabouts unknown accounts.

"These firms have not contracted nor are they affiliated with OST or the U.S. Government. Beneficiaries should not be led to believe they need to pay finder fees to receive their trust funds nor that firms have access to their account balances," OST said.

OST has over 70,000 whereabouts unknown accounts worth more than $70 million. The agency is trying to contact people who are owed money.

Relevant Links:
Office of Special Trustee - http://www.doi.gov/ost

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