Part of Frozen Investment Returned to Ardmore

12-19-03 - The city of Ardmore got an early Christmas gift, more than $160,000. But the money belonged to the city all along.

It goes back to a story that we made public two years ago. The city’s $990,000 investment with an east coast company was frozen, due to a federal investigation.

Bentley Financial was accused of not investing clients’ money as promised. Since then, the city has slowly recouped much of the initial investment, a total of $752,000 so far.

The city is also expecting a third distribution of the remainder of the money. Since the bad investment, city leaders have changed their policies on investing with out of state firms.