Check of welfare clients shows hidden bank funds
A computerized check of bank accounts in Massachusetts indicates welfare recipients nationwide may be hiding as much as $16 billion from government authorities, Gov. Edward King says.
The spot check of 63 (6.2 percent) of the state's banks turned up $25 million in undisclosed assets. One recipient had more than $200,000 in the bank, six others had accounts with $100,000 or more, and a total of 280 people each had at least $20,000 stashed away.