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Showing posts with label broker. Show all posts
Showing posts with label broker. Show all posts

Tuesday, June 23, 2009

Former Broker Gets Prison For Fraud

A federal judge has sentenced a former broker and investment manager to more than six years in prison for wire fraud. U.S. District Judge Thomas W. Thrash sentenced 48-year-old Frederick Barton on Tuesday to six years and six months in prison. Barton pleaded guilty in March to the charge, which involved diverting about $2 million from clients and investors. Prosecutors said Barton's victims included a woman in her 90s with Alzheimer's disease, and that Barton took her entire life savings. In addition to the prison sentence follosed by three years of supervised release, Barton was ordered to pay $878,100 in restitution.

(Associated Press)

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