NY AG Recovers $36 Million From H&M

According to New York State Attorney General Letitia James, for years popular fashion retailer H&M withheld unused balances on gift cards that should have been transferred to the Office of Unclaimed Funds, which is overseen by The Office of the New York State Comptroller Thomas DiNapoli. AG James has now recovered $36 million from H&M for unlawfully keeping millions of dollars in unused gift cards.

AG James stated: “My office has zero tolerance for companies that disregard the law and line their pockets with money that belongs to hardworking people. For years, not only did H&M illegally keep unused gift card money that customers paid for, but they then lied about it to the state…Today H&M will pay millions of dollars for its wrongdoing.”

Source: 13 WHAM