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Criminal Law

: SECLaw.com

SEC Charges Adviser in Fraudulent Scheme Utilizing Football Stars

By Mark H. Astarita, Esq.

he Securities and Exchange Commission filed securities fraud charges against an Austin, Texas investment adviser and two businesses he controls for operating a multi-million dollar scam that used former professional football players to promote its offerings.The SEC alleges that Kurt B. Barton and Triton Financial LLC raised more than $8.4 million from approximately 90 investors by selling "investor units" in an affiliate, Triton Insurance, and telling investors that their funds would be used to purchase an insurance company. The SEC alleges that these representations were false and investor proceeds were instead misused to pay day-to-day expenses at Triton and its affiliate. More>>>

Full post as published by SECLaw.com on December 26, 2009 (boomark / email).

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