A sum of $93,434.27 (approximately 13 million Nepali Rupees) deposited by the late former Prince Dhirendra Shah of Nepal in a U.S. bank remains unclaimed to this day. The amount, originally deposited in a Bank of America account in San Francisco, was transferred to the California State Controller’s office after years of inactivity, as no one—including Shah’s heirs, authorized individuals, or the Nepal government—has successfully claimed it.
Dhirendra Shah opened the account in 1986 during a visit to the United States, initially depositing $100,000 at Bank of America’s main office in San Francisco. Over the course of his stay in the U.S., he spent a portion of the funds, leaving a balance of $93,434.27.
After returning to Nepal, Shah ceased activity on the account, and it remained dormant. Under U.S. banking regulations, accounts inactive for three years are closed, and the funds are reported to the state controller.
Accordingly, Bank of America closed the account on February 28, 1991, and transferred the remaining balance to the California State Controller.
Adjusted for inflation using the Consumer Price Index (CPI), the $93,000 from 1986 would be equivalent to approximately $250,000 today—roughly 33.5 million NPR—highlighting the significant value of the unclaimed sum.
On June 2, 1994, Dhirendra Shah attempted to reclaim the money by sending a fax to Bank of America from Nepal using the number 977-1-410655. In response, on June 9, 1994, the bank informed him—via a one-time fax exception to its usual policy—that the account had been closed in 1991 and the funds transferred to the California State Controller.
The bank noted that Shah had not used the account since 1988, suggesting he may have forgotten about it—a possibility not uncommon among royal family members who often opened accounts in various countries during that era.
Following the bank’s response, Shah wrote to the California State Controller on July 1, 1994, and later received a reply from the office on July 14, 1995. On August 2, 1995, he sent another letter, enclosing a copy of his passbook and requesting that the funds be transferred to the Hong Kong bank account of his friend, Purushottam Das Goyal.
Shah provided his Kathmandu postbox number (P.O. Box 1971) and fax number (977-1-410665) for correspondence, while his U.S. account had been linked to a Montgomery Street P.O. Box (37001) and bore the account number 00334-33887. However, due to regulations prohibiting the transfer of funds to a third party, the State Controller did not release the money.
Dhirendra Shah’s efforts to recover the funds were cut short when he was killed at the age of 51 in the infamous Nepalese royal massacre on June 1, 2001. Since his death, the $93,434.27 has remained in the custody of the California State Controller. His daughters or the Nepal government could potentially claim the amount, but no successful claim has been made to date. The funds continue to sit unclaimed, a forgotten remnant of Nepal’s royal past.
Bank of America and the California State Controller’s office have followed standard legal procedures throughout the process, with the latter maintaining records of the unclaimed property. For now, the money remains in limbo—a financial echo of Dhirendra Shah’s life that neither his family nor his country has managed to retrieve.
Kishor Panthi
View More PostsKishor Panthi is the founder and editor-in-chief of Khasokhas and NepYork. He is the author of three books, “Kampan,” "UNTRANSLATABLE" and “Zero Mile.” He writes about social issues, immigration, and politics.
