Radio Shack will give up $140,000 in uncashed rebates owed to more than 5,000 Illinois residents, according to state Treasurer Michael Frerichs.
Frerichs said rebates checks are unclaimed property if not paid within five years.
Radio Shack agreed to the settlement after auditors determined the chain and its rebate fulfillment provider, Global Fulfillment Services, failed to report unclaimed rebate checks for purchases between 2002 and 2008.
Radio Shack had a contract with Global Fulfillment Services to process the rebate checks. In the event that an individual did not receive the rebate check or did not cash the check, Global Fulfillment Services kept the proceeds as revenue. The amount of the unclaimed rebates typically range from $20-$100. It could take weeks for the information to be recorded and entered into the unclaimed property records database at illinoistreasurer.gov under the I-Cash program.
