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PHILADELPHIA — The latest updates involving the distribution of more than $339 million to those who were impacted in the Bentley Financial Services certificate of deposit Ponzi scheme came on Jan. 31.

Bentley was charged with selling supposed bank-issued, federally insured CDs that were actually uninsured securities. Hundreds of credit unions, banks, and individuals invested more than $370 million. Since then, Peninsula Bank, Joseph Marzouca and Ted Benghiat, Southeastern Securities, Inc. and SFG Financial Services, Inc. have been named as defendants. Robert Bentley, who ran Bentley Financial, pled guilty to two counts of wire fraud and one count of bank bribery. He is currently serving five years in prison and was ordered to pay $3.25 million in fines.

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