Former Albuquerque real estate executive pays restitution for scheme

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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.

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