AUSTIN, Texas — The former CEO of a Texas-based investment firm was sentenced to 17 years in prison Friday for a scheme that used former NFL players to bilk hundreds of investors out of more than $50 million.
Several of his victims watched as Kurt Branham Barton, the former head of Triton Financial, gave a tearful apology at the hearing in Austin.
“I never intended for any of this to happen,” said Barton, 43, as he choked back tears. “I feel terrible about what’s happened.”
He was convicted in August on 39 counts, including more than a dozen each of wire fraud and money laundering.
Investors including Barton’s family and church members thought their money was for real estate deals and business loans. Prosecutors say Barton spent much of the money on himself, using it to pay for such things as a luxury box at University of Texas football games.
Former NFL quarterback Ty Detmer testified during the trial that he considered Barton a close friend and lost most of his life savings, about $2 million.
Other athletes who prosecutors said promoted or invested with Triton were Heisman Trophy winner Earl Campbell, former NFL quarterback Jeff Blake and NFL kicker David Akers. Akers said he lost more than $3 million.
