NM Real Estate Co. Faces SEC Fines For Alleged Fraud

Law360, New York (March 2, 2011, 9:13 PM EST) -- The U.S. Securities and Exchange Commission on Tuesday won a judgment for disgorgement against the bankrupt company of prominent New Mexico real estate agent Douglas F. Vaughan, who is accused of running an $80 million Ponzi scheme.

The judgment, handed down in the U.S. District Court for the District of New Mexico, was consented to by the Chapter 11 trustee of The Vaughan Co. Realtors Inc. and permanently enjoined anyone associated with the company from violating Sections 10(b) and 17(a) of the Securities Act of 1933....
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