49ers Kicker David Akers Lost $3.7 Million in Ponzi Scheme

49ers place kicker David Akers told a federal jury in Austin today that he lost $3.7 million investing with Austin’s Triton Financial from 2007 to 2009.

He said he never would have made those investments if he had gotten the truth from former company chief executive Kurt Barton.

“I’ve had a lot of sleepless nights,” said Akers, who told federal prosecutor Mark Lane that he considered Barton to be like a friend. “As I said, this is my family’s future. I said that to Kurt a lot of times. I said, ‘Man I’m trusting in you.’ “

Akers and two other NFL players were among a string of witnesses who testified that they lost big money with Barton at Barton’s federal fraud trial.

Prosecutors claim that Barton continuously lied to investors about where their money would go, how it would be used and about how he had a large amount of personal wealth to back the investments in building a $50 million Ponzi scheme.

Barton’s lawyers contend that he did nothing illegal and simply made a series of bad business decisions.

Akers said that he invested in a series of deals with Triton, including real estate purchases and in a health club Triton was developing in San Antonio. Akers said he initially gave Triton $75,000 to purchase a plot of land that Barton called “Rundberg,” which Barton said could be used to build a small stadium or an amphitheatre.

Enjoyed this post?
Subscribe to NFL Gridiron Gab via RSS Feed or E-mail and receive daily news updates from us!

Submit to Digg  Stumble This Story  Share on Twitter  Post on Facebook  Post on MySpace  Add to del.icio.us  Bark It Up  Submit to Reddit  Fave on Technorati

Comments are closed.