ALBUQUERQUE, N.M.—A web site has been launched by some investors who say they are being victimized twice by former Albuquerque real estate executive Doug Vaughan’s Ponzi scheme.
The web site aims to provide information to investors who say they not only lost money, but now are being hit with so-called clawback lawsuits that seek to recover earnings they might have made on their investment in the past.
The basic message of the web site, , is a call to investors to fight the injustice.
Web site spokesman and investor Ronald Frank of Wyoming told the Albuquerque Journal ( ) he lost $37,000 in the Ponzi scheme and now is being hit with a clawback seeking $46,548.
Vaughan, meantime, is awaiting sentencing after reaching a plea deal to settle charges he swindled some 600 people in New Mexico, Arizona, Texas, Colorado and other states of nearly $75 million. He faces 10 to 12 years in prison.
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Information from: Albuquerque Journal,
