The Securities and Exchange Commission has filed fraud charges against an Austin investment adviser and two of his businesses, alleging that he conducted a "multimillion-dollar scam" that used former professional football players to promote its offerings.

The SEC alleged in a filing last week that Kurt B. Barton and Triton Financial LLC raised more than $8.4 million from about 90 investors by selling "investor units" in an affiliate, Triton Insurance, and telling investors that their money would be used to buy an insurance company.

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