Utah charges accused California man of securities fraud
SALT LAKE CITY (AP) — A California man who was the founder and president of a natural gas and oil company in Utah faces charges in that state alleging he defrauded investors.
The Deseret News reports that the Utah Attorney General’s Office on Friday charged 60-year-old Spencer Kent Barton of Fresno with multiple counts of securities fraud and other crimes.
Charging documents alleged Barton obtained approximately $359,000 in investments for Empire Energy, but withdrew approximately $151,000 in cash and made $28,000 in purchases “consistent with personal use.”
An arrest warrant was issued Friday for Barton, who formerly lived in Ferron in Emery County in rural east-central Utah.
Court records don’t list an attorney who could comment on the allegations and no phone is listed under Barton’s name.