SEC Accuses Realtor Of Running $80M Ponzi Scheme

Law360, New York (March 24, 2010, 5:10 PM EDT) -- The U.S. Securities and Exchange Commission has accused a prominent New Mexico real estate agent of running an $80 million Ponzi scheme that recently collapsed, leaving about 600 investors in its wake.

The commission said in a complaint filed Tuesday in the U.S. District Court for the District of New Mexico that Douglas F. Vaughan ran the scheme through The Vaughan Co. Realtors Inc. and Vaughan Capital LLC, promising investors high, fixed-interest payments ranging from 10 to 25 percent over one to three years.

The complaint...
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