Former CEO guilty in 'Ponzi' scheme
Headline Legal News
The former CEO of an Austin-based investment firm was found guilty on Wednesday on federal charges that he schemed and defrauded investors out of millions of dollars.
Triton Financial CEO Kurt Branham Barton was named in a 39-count indictment alleging he used former NFL stars and church contacts to raise $50 million fraudulently from investors.
The counts against Kurt Branham Barton included money laundering, wire fraud and securities fraud. He is accused of using the money raised from investors "to support an expanding Ponzi scheme" and to enrich himself and the chief financial officer of his Triton Financial firm.
“It is regrettable that selfish, greedy individuals devise schemes to make themselves rich by victimizing honest and innocent people, often depriving the victims of their life savings," U.S. Attorney John E. Murphy said. "These con artists are usually very accomplished salesmen taking advantage of trusting investors, who unfortunately will never be made whole again."
Evidence presented during the eight-day trial showed that from December 2005 and December 2009, Barton devised a scheme to obtain money from investors under false pretenses.
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USCIS Adjusting Premium Processing Fee
U.S. Citizenship and Immigration Services (USCIS) announced today it is adjusting the premium processing fee for Form I-129, Petition for a Nonimmigrant Worker and Form I-140, Immigrant Petition for Alien Workers beginning on Oct. 1, 2018 to more effectively adjudicate petitions and maintain effective service to petitioners.
The premium processing fee will increase to $1,410, a 14.92 percent increase (after rounding) from the current fee of $1,225. This increase, which is done in accordance with the Immigration and Nationality Act, represents the percentage change in inflation since the fee was last increased in 2010 based on the Consumer Price Index for all Urban Consumers.
“Because premium processing fees have not been adjusted since 2010, our ability to improve the adjudications and service processes for all petitioners has been hindered as we’ve experienced significantly higher demand for immigration benefits. Ultimately, adjusting the premium processing fee will allow us to continue making necessary investments in staff and technology to administer various immigration benefit requests more effectively and efficiently,” said Chief Financial Officer Joseph Moore. “USCIS will continue adjudicating all petitions on a case-by-case basis to determine if they meet all standards required under applicable law, policies, and regulations.”
Premium processing is an optional service that is currently authorized for certain petitioners filing Forms I-129 or I-140. The system allows petitioners to request 15-day processing of certain employment-based immigration benefit requests if they pay an extra fee. The premium processing fee is paid in addition to the base filing fee and any other applicable fees, which cannot be waived.