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Posted: Fri 3:20 PM, Dec 19, 2003
Updated: Mon 6:59 AM, Dec 22, 2003
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.
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