Former CEO guilty in 'Ponzi' scheme
Headline Legal News
The former CEO of an Austin-based investment firm was found guilty on Wednesday on federal charges that he schemed and defrauded investors out of millions of dollars.
Triton Financial CEO Kurt Branham Barton was named in a 39-count indictment alleging he used former NFL stars and church contacts to raise $50 million fraudulently from investors.
The counts against Kurt Branham Barton included money laundering, wire fraud and securities fraud. He is accused of using the money raised from investors "to support an expanding Ponzi scheme" and to enrich himself and the chief financial officer of his Triton Financial firm.
“It is regrettable that selfish, greedy individuals devise schemes to make themselves rich by victimizing honest and innocent people, often depriving the victims of their life savings," U.S. Attorney John E. Murphy said. "These con artists are usually very accomplished salesmen taking advantage of trusting investors, who unfortunately will never be made whole again."
Evidence presented during the eight-day trial showed that from December 2005 and December 2009, Barton devised a scheme to obtain money from investors under false pretenses.
Related listings
-
Man found guilty in Atlanta of killing boxer
Headline Legal News 08/18/2011A Fulton County jury has found DeMario Ware guilty of felony murder and other charges in the shooting of former world champion boxer Vernon Forrest. The jury acquitted Ware on a malice murder charge. The 22-year-old Ware did not fire the gun that kil...
-
EPA settles with owners of Mass. chemical plant
Headline Legal News 08/17/2011The owners of a suburban Massachusetts chemical plant that exploded in 2006, destroying dozens of homes, have agreed to pay the federal government an estimated $1.3 million to help cover the cost of cleaning up the hazardous waste that was left behin...
-
2 enter guilty pleas in GOP corruption case
Headline Legal News 08/16/2011Two people who worked for former House Speaker John Perzel have pleaded guilty to charges stemming from a public corruption investigation of the House Republican Caucus. Samuel Stokes, a former House employee and brother-in-law to Perzel, pleaded gui...
Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.