Dealing a huge setback to the victims of the $1 billion Ponzi scheme operated by Chester County, Pa., businessman Robert L. Bentley, a federal appeals court on Monday overturned a jury’s verdict of more than $32.7 million against a bank and a broker accused of helping Bentley to keep the scheme alive.
In Marion v. TDI Inc., a unanimous three-judge panel held that the court-appointed receiver who stepped into the shoes of Bentley’s investment company has standing to sue any entity that harmed Bentley’s firm.
