SEC Halts Alleged $80M Ponzi Scheme By Albuquerque Realtor, His Companies

The Securities and Exchange Commission announced March 24 that it obtained an asset freeze order and other emergency relief in the U.S. District Court for the District of New Mexico halting an alleged $80 million Ponzi scheme by Albuquerque realtor Douglas Vaughan (SEC v. Vaughan).

In a release, the commission said Vaughan’s companies—Vaughan Co. Realtors Inc., and Vaughan Capital LLC—also were charged. The defendants’ lawyer, Robert Gorence, Gorence & Oliveros PC, Albuquerque, could not be reached immediately for comment.

“Vaughan exploited his prominence in the Albuquerque business community to add legitimacy to his scheme and lure investors,” Donald ...