Sentencing Set in High Profile Investment Scheme Case
The Associated Press reports sentencing is set for today for the former CEO of an Austin-based investment firm that used former NFL stars to defraud hundreds of investors. People lost more than $50 million in investments they thought were legitimate.
Kurt Branham Barton, founder of Triton Financial, was convicted on 39 counts, including wire fraud and money laundering. The AP reports the charges could carry up to life in prison:
Prosecutors said Barton wanted to hang out with NFL players and used money that investors thought was for real estate deals and short-term business loans to pay for a luxury box at University of Texas football games, a $150,000 car and family trips on private jets. None of the athletes, including some who lost millions, was accused of wrongdoing.
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