Wednesday, January 7, 2009

Georgia Investment Advisor

Frederick J. Barton, 48, an investment advisor based in Atlanta, Georgia, was arrested Monday for defrauding his clients to the tune of at least $3 million, including an Alzheimer's patient who lost $1 million. Barton was charged with wire fraud, mail fraud and securities fraud for allegedly diverting client investment funds to himself. The fraud occurred between 2001 and 2007 and also involved the fraudulent sale of shares in his own investment advisory firms, Barton Asset Management LLC and TwinSpan Capital Management, LLC. Barton reportedly set up his own business after being fired from A.G. Edwards & Sons, where he worked as a manager.

Read the story here, here and here.

Read the SEC litigation release here.

No comments: