- Associated Press - Tuesday, March 29, 2016

OKLAHOMA CITY (AP) - The Oklahoma Supreme Court has rejected a lawsuit challenging the constitutionality and administration of the state’s Uniform Unclaimed Property Act.

The state’s highest court handed down the decision Tuesday in a lawsuit against Treasurer Ken Miller, who administers Oklahoma’s unclaimed property fund.

Among other things, the lawsuit claimed the state operated a Ponzi scheme by raiding the fund and using the money to pay for state government operations. The program was created to return unclaimed property, such as jewelry, stock certificates and cash, to their rightful owners.

But the Supreme Court ruled that the lawsuit is without merit and affirmed a decision by Oklahoma County District Judge Thomas Prince last year to dismiss it.

Attorney Jerry Fent, who filed the lawsuit, said Tuesday that he was disappointed in the decision.


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