SEC Says Investment Manager Took|$970,000 From Client With Alzheimer’s

     ATLANTA (CN) – Frederick Barton and Barton Asset Management fraudulently misappropriated $970,000 – “almost the entire life savings” – of an elderly client with Alzheimer’s disease, the SEC claims in Federal Court.




     The client died at 92 in 2007, the SEC says. It claims Barton and another of his companies, TwinSpan, raised $1.5 million from 10 other customers, and misappropriated $493,000 of it, including $161,700 sent to Barton’s personal account.
     Barton, 47, formerly of Atlanta, recently moved to Baldwin, Mo., the complaint states.

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