SEC Tags Heisman Trophy Co-Sponsor With Fraud

Law360, New York (December 23, 2009, 3:02 PM EST) -- The U.S. Securities and Exchange Commission has hit Triton Financial LLC, co-sponsor of the Heisman Trophy Trust, and its CEO with a securities fraud suit for allegedly ripping off investors to the tune of $8.4 million in a scam promoted by professional football players.

Texas investment adviser Kurt B. Barton and his companies, Triton Financial and Triton Acquisition LP, are accused of taking money from 90 investors who thought they were funding the acquisition of underperforming insurance company National States Insurance Co., according to the complaint...
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