A legal team led by former Democratic state Rep. Jeff Crossman has filed a class action lawsuit challenging Ohio’s plan to pay for a new Cleveland Browns stadium. The state budget finds the money by taking ownership of unclaimed funds left in the state’s care for more than 10 years.
The lawsuit contends that’s an “unconstitutional and unlawful misappropriation of private property.”
Ohio unclaimed funds account, made up of forgotten deposits, uncashed checks and abandoned bank accounts, is worth nearly $5 billion.
To this point, the state has held those funds in perpetuity until their rightful owner comes forward to claim them. That approach is the broadly agreed-upon best practice around the country.
The handful of states that eventually do take ownership of abandoned funds wait far lo