Ponzi schemer Doug Vaughan sentencing (Live Blogging)

September 5th, 2012 at 2:14 pm by under Latest Posts

KRQE News 13 is in federal court in Santa Fe where Doug Vaughan is being sentenced for his $70 million Ponzie swindle.

(The judge sentenced Vaughan to 12 years in prison.  Thank you for following this live Twitter feed from the courtroom.  Additional reporting and coverage can be found on KRQE.com and on KRQE News 13 newscasts.)

Follow News 13 Reporter Katie Kim on Twitter @katiemkim:

4:53 p.m.  Convicted #Ponzi schemer Doug #Vaughan was escorted out the courthouse thru an underground parking lot without facing media questions

3:44 p.m.  #Vaughan must voluntarily surrender within 48 hours to U.S. Marshals Office

3:40 p.m.  Judge will accept plea agreement, #Vaughan sentenced to 12 years

3:37 p.m.  Judge: worst thing was these were friends, associates, colleagues — not strangers #Vaughan

3:36 p.m.  Judge: you destroyed a lot of lives, Mr. #Vaughan no matter what your intentions, aggravated by your lifestyle off victims’ money

3:35 p.m.  Judge reading letters from victims who say they’ve lost “money, integrity, dignity, trust in humanity” #Vaughan

3:32 p.m.  Judge: Mr. #Vaughan you have become the most infamous criminal in NM, bypassing Billy the Kid

3:32 p.m.  Sirignano: asking for a reasonable date for voluntary surrender for medical reasons and resolve some bankruptcy cases #Vaughan

3:30 p.m.  Fouratt: expects nothing less than 12 years; thinking about the elderly, the immigrants who lost life savings #Vaughan

3:29 p.m.  #Vaughan: I recently accepted Christ and hope to help others in my incarceration. I ask the courts for 10 yrs…

3:28 p.m.  #Vaughan: “My remorse and sadness grows weekly. I ask for forgiveness.”

3:26 p.m.  #Vaughan: “I am so very sorry. I am responsible for the decisions I made”

3:26 p.m.  #Vaughan speaking now: “i would like to express my extreme sorrow”

3:20 p.m.  Sirignano: #Vaughan survives on $1700 a month social security payments; that’s all the money he has

3:19 p.m.  Sirignano: #Vaughan turned over all his assets; suffered demeaning act of auction of his property

3:19 p.m.  Sirignano: #Vaughan is very remorseful and sorry for his offenses

3:18 p.m.  Sirignano: #Vaughan is paying the ultimate price, he has been disgraced and will go to prison for a long time, may not survive this

3:17 p.m.  Sirignano: asking for 10 yr sentence in a federal prison camp, which is minimum-security prison

3:09 p.m.  #Vaughan walking up to podium with attorneys

3:08 p.m.  Judge asked avg cost to taxpayer to house inmate per year; Fouratt said $40k a year in federal prison

3:08 p.m.  Fouratt: doesn’t matter is #Vaugahn gets 1000 years, victims won’t get money back

3:07 p.m.  Fouratt: investigations by 3 agencies show there are no missing millions #Vaughan has stashed away

3:05 p.m.  Fouratt: no way #Vaughan was going to win this, so question for us was how much should taxpayer pay for legal proceedings?

3:05 p.m.  Fmr. U.S. Attorney Greg Fouratt: 12 years is life sentence for #Vaughan; if he survives it, he should be put on 5 yrs. supervised probation

3:02 p.m.  #Vaughan attorney Amy Sirignano asking judge to accept plea to spare everyone from long trial

3:02 p.m.  Victims done testifying; defense says #Vaughan will address court

2:59 p.m.  Victim: a 10-12 year sentence is too lenient; what did #Vaughan offer U.S. attorneys?

2:57 p.m.  A bit of a heated back and forth between federal judge and victim who is testifying #vaughan

2:56 p.m.  Judge to victim: You’re not helping me make a sentencing decision #vaughan

2:55 p.m.  Victim: U.S. Attorney’s Office doesn’t have a dog in this fight #Vaughan

2:51 p.m.  Victim: Notorious NY #Ponzi schemer Bernie Madoff got life, #Vaughan only looking at 10-12 yrs. Who is protecting him, victim asks

2:49 p.m.  Victim: this is not a local issue, it’s national issue; #Vaughan has victims in 32 states, victim says

2:44 p.m.  Both defense and federal prosecutors agree that 10-12 yr sentence is considered life for #Vaughan who turns 65 next month; victims want more

2:42 p.m.  Victim: #Vaughan has sums of money hidden away to use after his 10-12 sentence; his defense wrote in memos that this is not the case

2:41 p.m.  Fourth and last victim speaking on behalf of other victims #vaughan

2:39 p.m.  Judge is expected to decide whether #Vaughan will be remanded into custody after sentencing or if he can voluntarily surrender

2:35 p.m.  Third victim now speaking #vaughan

2:32 p.m.  Victim begging court to set a precedence for “the largest crime in state history” #vaughan

2:20 p.m.  Victim: #Vaughan stole from our kids, grandkids — not 600 victims, more like 6000, victim says

2:29 p.m.  Another victim now testifying; she says she lost her freedom and independence for the rest of their lives

2:19 p.m.  Victim: we are living in a “prison” of our own, financially ruined

2:18 p.m.  #Vaughan sits quietly, looking down while victim testifies. He entered court house through side door away from our TV cameras.

2:16 p.m.  Victim: More than 150 of us are now involved in clawback lawsuit that accuses us of knowing about #Vaughan’s crimes

2:15 p.m.  Victim: we are humiliated and financially ruined. #Vaughan took everything from us.

2:14 p.m.  Victim: #Vaughan is the greatest con-man we’ve ever known. Man says Vaughan was a trusted friend, who took his life savings.

2:13 p.m.  Doug Vaughan plead guilty to swindling $75M from 600+ investors. A judge will decide if he spends 10-12 yrs in prison

2:10 p.m.  Doug Vaughan sentencing has just started. Four victims will testify against Ponzi schemer.

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One Response to “Ponzi schemer Doug Vaughan sentencing (Live Blogging)”

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