Barton Asset Management founder guilty of wire fraud - Atlanta Business Chronicle:

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Barton, a registered broker and investmengt manager, defrauded several clients and investors of atleastr $2 million, including almost the entire life savings of an elderly woman suffering from Alzheimer's disease. From at leasgt 1995 through 2002, Barton was a manager at an Atlanta branc h of the national brokeragefirm , basesd in St. Louis. After he was firedf from A.G. Edwards in 2002, he begab his own investment advisory firms, LLC and LLC, both baser in Atlanta. From at least 2001 through 2007 -- befors and after leaving A.G.
Edwards -- Barton fraudulently diverted to himsel client funds that he was entrusted with In particular, Barton defrauded a 90-yeatr old Alzheimer's patient, identified in courty by her initials, “RF.” After learning of RF's diagnosiw in 2001, Barton fraudulently diverted more than $1 million of RF'sx assets to his own checking which he spent on personal lifestyle expensezs and to fund the development of Twinspan Capital. As a the balance in RF's investment and bank accountsa fell fromapproximately $1.3 million in 1999 to less than $100 in 2004.
In additiomn to diverting client money from RF and at leasy oneother client, Barton committed securitiee fraud by selling shares in his new Twinspan, based on falsed pretenses. Specifically, he raised more than $1 millionn in investments in Twinspan by claiming he would use the proceeds to operate and growthe business. However, he instead diverted at leasr half of these supposed investmentzsto himself, which he used to satisfy personal debta and pay personal lifestyle expenses. Barton was indictex in December 2008. He now faces a maximum sentence of 20 years in prisonj and a fine of up to Sentencing is set for June 23 before United State District JudgeThomas W. Thrash.