{"id":834,"date":"2011-02-17T20:24:22","date_gmt":"2011-02-17T20:24:22","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2011\/02\/extriton_financial_ceo_accused"},"modified":"2022-03-09T16:04:51","modified_gmt":"2022-03-09T22:04:51","slug":"extriton-financial-ceo-accused","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/extriton-financial-ceo-accused\/","title":{"rendered":"Ex-Triton Financial CEO Accused of Using NFL Contacts to Commit $50M Texas Securities Fraud"},"content":{"rendered":"

\t\t\t\tKurt Branham Barton, the former CEO of Triton Financial, a financial firm based in Austin, Texas, has been indicted on 33 counts, including Texas securities fraud<\/a>, money laundering, and wire fraud. Barton allegedly used ex-NFL stars and church contacts in a $50 million Ponzi scam. <\/p>\n

The American-Statesman reports that beginning in 2002, Barton accumulated a number of partnerships and companies based around Triton Financial. He even hired ex-NFL stars Chris Weinke and Ty Detmer to persuade clients to invest. Many investors belonged to the Church of Jesus Christ of Latter-day Saints (Barton is also a member). <\/p>\n

Court documents contend that Barton got investors to give him over $50 million and that he used the funds to live a lavish lifestyle that included expensive vehicles, flying in private planes, and a luxury box for watching University of Texas football games. He also made money in political campaign contributions. <\/p>\n

By 2009, however, several securities fraud complaints had been filed. Investors accused Barton of misleading them about where their money would go. The Securities and Exchange Commission would go on to file a securities fraud lawsuit against Triton Financial and Barton, and the Texas State Securities Board has stripped him of his investment adviser license. <\/p>\n

The indictment accuses Barton of lying about his investments to investors regulators and of creating “false, fictitious, and fraudulent limited partnerships. He also allegedly used an E-Trade statement that showed his holdings had a balance of over $3 million even though the actual balance was $3,161.17. Barton is accused of giving regulators “altered and fabricated documents” about his business dealings. <\/p>\n

A judge has placed Triton Financial in receivership. Per the receiver’ statement on January 31, 2011, over 600 investors have made $63.3 million in securities fraud claims against the financial firm and its ex-CEO.<\/p>\n

Related Web Resources:<\/strong>
\nFormer Triton chief indicted on charges of money laundering and fraud, Statesman, February 15, 2011
\nBroker indicted in fraud with NFL stars, KXAN, February 16, 2011
\nRead the Indictment (PDF)<\/p>\n

More Stockbroker Fraud Blog Posts:<\/strong>
\nTexas Securities Act Control Person Claims against Merrill Lynch Pierce Fenner & Smith Inc. is Revived by Appeals Court<\/a>, Stockbroker Fraud Blog Posts, January 20, 2011
\nR. Allen Stanford’s Criminal Trial Over $7 Billion Ponzi Scam Delayed So He Can Detoxify from Medication Addiction<\/a>, Stockbroker Fraud Blog Posts, January 11, 2011
\nALJ to Determine Whether to Revoke Registration of STS-Advisors Ltd. and Investment Adviser Representative Richard Lewis Bruce Over Alleged Texas Securities Fraud<\/a>, Stockbroker Fraud Blog Posts, January 7, 2011 Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Kurt Branham Barton, the former CEO of Triton Financial, a financial firm based in Austin, Texas, has been indicted on 33 counts, including Texas securities fraud, money laundering, and wire fraud. Barton allegedly used ex-NFL stars and church contacts in a $50 million Ponzi scam. The American-Statesman reports that beginning in 2002, Barton accumulated a […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3792,3750],"tags":[],"class_list":["post-834","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-ponzi-scams","category-texas-securities-fraud"],"yoast_head":"\nEx-Triton Financial CEO Accused of Using NFL Contacts to Commit $50M Texas Securities Fraud — Investor Lawyers Blog — February 17, 2011<\/title>\n<meta name=\"description\" content=\"Kurt Branham Barton, the former CEO of Triton Financial, a financial firm based in Austin, Texas, has been indicted on 33 counts, including Texas — February 17, 2011\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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