Heisman winner says he lost $2 million in scam

August 9, 2011 10:16:41 AM PDT
Former Heisman Trophy winner Ty Detmer lost most of his life savings with an investment manager accused of running a scam that prosecutors say targeted former professional athletes.

Kurt Barton, former chief executive of Triton Financial, went on trial in federal court this week. He's accused of building a $50 million Ponzi scheme that cheated hundreds of investors nationally.

The Austin American-Statesman reports that Detmer was the first witness called Monday. He fought back tears while testifying that he had lost about $2 million since investing with Triton in 2005.

Other athletes who prosecutors say invested with or promoted Triton were Heisman winners Earl Campbell and Chris Weinke. The athletes are not accused of wrongdoing.

Barton's attorneys say he built a legitimate business that was hurt by the economy.