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Madoff victim helping NM Ponzi investor

February 20, 2012 • State News

ALBUQUERQUE, N.M. (AP) — A noted New York lawyer and Ponzi scheme victim of Bernie Madoff has signed on to help victims of a New Mexico swindler fight a flurry of so-called claw-back lawsuits that seek to recapture some of the $75 million lost by 600 investors around the country.

More than 100 suits had been filed by the end of last week as the trustee for the bankruptcy case of Doug Vaughan worked to meet a deadline Wednesday for making any claims against people who may have profited from their investments in promissory notes with Vaughan and his Vaughan Company Realtors.

While many of the lawsuits are against big money investors and accused insiders who made huge profits over the years with interest rates of 20 percent or more on loans to Vaughan’s real estate company, others go after much smaller investors, Login to read more

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