Attorney General Eliot Spitzer’s two year investigation found that many record companies stopped sending royalty checks after losing contact with their artists, the New York Daily News reported Wednesday.
He found Elvis Presley’s estate to be due $9,659; country singer Vince Gill due $15,889; 1980s boy band New Edition owed $72,157, and the Fontaine Sisters were owed $106,787.
However, the biggest prize goes to the estate of 1950s Rhythm & Blues singer Tommy Edwards, which will receive $229,723.
The settlement, which only covers royalties since August 2001, requires companies to publicize the unclaimed cash and find artists who are owed money.
Spitzer said $25 million has already been returned to various performers, and an additional $25 million is set to be returned.
Companies involved in the settlement include Sony Music Entertainment, Sony ATV Music Publishing, Warner Music Group, UMG Recordings, Universal Music, EMI Music Publishing, EMI Music North America, BMG Songs, Careers-BMG Music Publishing, BMG Music and the Harry Fox Agency.