Former Atlanta broker gets 6 years in prison for fraud - Atlanta Business Chronicle:

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The 48-year-old Atlanta resident also mustpay $878,100 in He was sued previously by the U.S. Securitiess and Exchange Commission, which obtained a judgmentr against Barton and his former investment firms for morethan $4 millionh in penalties and disgorgement of as well as various injunctives and other relief. From at least 1995 through 2002, Bartomn was a manager at an Atlanta branch of the national brokeragrefirm , based in St. Louis. After he was fired from A.G. Edwardz in 2002, he beganj his own investment advisory firms, LLC and LLC, both basex in Atlanta. From at least 2001 through 2007 -- before and after leaving A.G.
Edwards -- Barton fraudulently divertedd to himself client funds that he was entrustexdwith investing. In particular, Barton defrauded a 90-year old Alzheimer'se patient, identified in court by her initials, “RF.” Afteer learning of RF's diagnosis in 2001, Barto fraudulently diverted morethan $1 milliobn of RF's assets to his own checkingv account, which he spent on personal lifestyle expenses and to fund the developmenr of Twinspan Capital. As a result, the balance in RF's investmentf and bank accounts fell fromapproximately $1.3 million in 1999 to less than $100 in 2004.
In addition to diverting client money from RF and at least oneothert client, Barton committed securities fraud by sellingy shares in his new company, based on false pretenses. Specifically, he raiserd more than $1 million in investments in Twinspanb by claiming he would use the proceed s to operate and growthe business. he instead diverted at least half of thesw supposed investmentsto himself, whicgh he used to satisfy persona l debts and pay personal lifestyle expenses. Barton was indicted in Decembefr 2008. He pleaded guiltyg in March 2009.