Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PHILADELPHIA — Claimants involved in the Bentley Financial Services, Inc. certificate of deposit Ponzi scheme are due their remaining $32 million, a jury recently found.

According to David Marion, the court-appointed receiver with Montgomery, McCracken, Walker & Rhoads LLP, the verdict is a “major victory in his continuing efforts to marshal the assets of the Receivership for the benefits of the victims of the fraud.” Through Bentley Financial and Entrust Group, Robert L. Bentley sold fake certificates of deposits from 1994 to October 2001 to hundreds of credit unions, banks and individuals. Collectively, they invested more than $370 million in the CDs. Bentley pled guilty to mail fraud and bank bribery charges in March 2005, and began serving a 55-month sentence on Dec. 6, 2005. The receivership has returned $339 million back to claimants.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.