ALBUQUERQUE, N.M. (KRQE) – Checks have gone out to people who lost money in former Albuquerque Real Estate Executive Doug Vaughan’s Ponzi scheme
Vaughan was sentenced to 12 years in federal prison.
Vaughan took a plea deal and admitted he swindled 600 investors in at least eight states out of $75 million. He was ordered to pay restitution.
Payments range from around $19 to almost $300,000.