What to Do When You Find a Large Sum of Money

Introduction

Finding a large sum of money can be a mysterious and even exciting discovery. However, it's important to understand the legal implications of what to do with such a find. This article explores the best practices and potential outcomes if you come across significant amounts of cash and decide to report it to the police. We'll discuss the risks, legal responsibilities, and the process of claiming unclaimed property.

Understanding the Context

Large sums of cash don't just sit around waiting to be found. If you discover a significant amount of money, it's crucial to consider the potential origins and legal consequences of your actions.

It's possible that the money might belong to a drug dealer, the mafia, or some other criminal organization. If so, you could become a target or a witness for these entities. In such situations, it's essential to maintain your anonymity and keep a low profile to protect yourself from potential threats.

A Personal Experience

Many years ago, I found $400 in a jacket pocket while shopping at a bargain basement. Realizing that the money was likely left behind by someone, I tried to locate the owner. After contacting the owner, she became very angry and accused me of trying to steal both the money and the jacket. Despite her claims, I decided to drop both the money and the jacket off at security and leave a note with details on how it was found. Unfortunately, I never knew if she recovered the money.

The Legal Process

Turning the money over to the police is a responsible action. Under most procedural laws, you can reclaim 'found property' after 90 days if it remains unclaimed. However, this process can be subject to corruption or other complications. If you decide to take this route, you should keep the following points in mind:

Can You Claim the Money Later?

Yes, under most jurisdictions, you can reclaim the funds after 90 days if they have not been claimed by the original owner. You can obtain a receipt for the found money, and if the money remains unclaimed, you can legally keep it. However, this process should be handled with caution to avoid any legal complications.

Risk of Tampering with Evidence

If you choose to keep the money after 90 days, there is a risk of facing charges for tampering with evidence. The money may be considered evidence in a criminal case, and circulating it could lead to legal troubles. Therefore, it is crucial to adhere to the proper procedures and documentation to avoid any legal issues.

Doing the Right Thing

While you can claim the money after 90 days, it's important to do the right thing from the start. Reporting the found money to the police ensures that you are fulfilling your legal responsibilities and potentially preventing it from falling into the wrong hands.

Conclusion

In conclusion, if you find a large sum of money, your first instinct should be to report it to the police. While the process of reclaiming the money can be complex, doing so is the legal and responsible action to take. Whether you choose to report the money or wait 90 days to claim it, ensure that you adhere to the proper procedures to avoid potential legal issues.