Mandarin Oriental hotel and luxury condo tower. currently faces federal charges alleging he scammed more than 100 Chinese investors out of $26 million with promises to develop properties across North Texas.
Barton, who has pleaded not guilty to the charges, faces seven counts of wire fraud, one count of securities fraud, and one count of conspiracy to commit wire fraud. He could faceaccording to the U.S. Attorney’s Office for the Northern District of Texas. On Oct. 18, at the request of the U.S. Securities and Exchange Commission, the U.S. District Court for the Northern District of Texas appointed attorney Cort Thomas as the receiver for all entities and properties controlled directly or indirectly by Barton — whether the entities and properties are related to the case involving the Chinese investors or not.The order gave Thomas broad powers, including the authority to sell key assets and real estate development interests without Barton’s consent.
Barton filed a motion to prevent Thomas from liquidating assets before he is tried on the charges he faces. In the motion, Barton’s lawyers call the receivership “Thomas, in his role as receiver, “kicked out Barton from his only home and seized his real estate development business that previously had survived every business cycle of the prior thirty years,” the motion states.
The SEC’s filings and supporting documents that Starr reviewed indicate that Barton “misappropriated and misused” the vast majority of investor funds, the judge’s order states.
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