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

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Barton, a registered broker and investment defrauded several clients and investors of atleast $2 million, includiny almost the entire life saving s of an elderly woman suffering from Alzheimer's disease. From at leasg 1995 through 2002, Barton was a manage at an Atlanta branch of the national brokeragewfirm , based in St. After he was fired from A.G. Edwards in he began his own investmentadvisoryh firms, LLC and LLC, both basedr in Atlanta. From at leas 2001 through 2007 -- before and after leavint A.G.
Edwards -- Barton fraudulently divertedd to himself client funds that he was entrusted with In particular, Barton defrauded a 90-year old Alzheimer'as patient, identified in court by her “RF.” After learning of RF's diagnosis in 2001, Barto fraudulently diverted more than $1 million of RF's assets to his own checking account, which he spent on personal lifestyle expenses and to fund the development of Twinspajn Capital. As a result, the balanc in RF's investment and bank accountxs fell fromapproximately $1.3 million in 1999 to less than $100 in 2004.
In additiob to diverting client money from RF and at least one other client, Barton committed securities fraud by selling shares in his new Twinspan, based on false pretenses. Specifically, he raisec more than $1 million in investments in Twinspan by claiming he would use the proceeds to operate and growthe However, he instead diverted at least half of theses supposed investments to himself, which he used to satisfty personal debts and pay personalk lifestyle expenses. Barton was indicted in Decembetr 2008. He now faces a maximukm sentence of 20 years in prison and a fine of up to Sentencing is set for June 23 befored United States District JudgeThomas W.