NEW MEXICO (KRQE) – The New Mexico man convicted of a multi-million dollar Ponzi scheme will not get off probation early. In 2005, Doug Vaughan was convicted of bilking 600 real-estate investors out of $74 million over the span of five years. He pled guilty in 2011 and was sentenced to 12 years in an Arizona federal prison but in 2021 he was released.
A New Mexico judge denied the motion because they believed the sentence was “abundantly lenient” and that Vaughan should be required to complete his term of supervised release. The court notes Vaughan was ordered to pay over $43 million in restitution to over 400 victims but that he has not fulfilled the obligation. The court ordered Vaughan to remain on supervised probation.
