Latest in N.M.'s Largest Ponzi Scheme

Douglas Vaughan

From forbes.com -Last year, we first told you about the activities of Douglas F. Vaughan, a New Mexico real estate broker who authorities said orchestrated that rural desert state’s biggest-ever Ponzi scheme. Since the early 1990′s the popular Albuquerque businessman sold to his fellow New Mexicans promissory notes touting high annual returns–averaging 17.5%–and no risk.Vaughan, 64, pleaded guilty in a Santa Fe federal courtroom to two of those counts, mail fraud and wire fraud. He formally admitted to running the state-record Ponzi, which was put at $75 million.  More News New Mexico

Latest in N.M.'s Largest Ponzi Scheme