A federal judge says Ponzi schemer Doug Vaughan has surpassed Billy the Kid as New Mexico's most infamous criminal. U.S. District Judge Bruce Black on Wednesday sentenced the disgraced real estate executive to 12 years in prison for the scheme that bilked more than 600 investors out of $75 million. The 64-year-old Vaughan appeared gaunt, pale and on the verge of tears throughout the sentencing hearing. He apologized to his victims saying he has found the Lord and hopes to do God's work while in prison. Vaughan pleaded guilty to two felony charges as part of a plea agreement reached in December. The judge rejected a defense request for a 10-year sentence and incarceration at a so-called federal prison camp rather than a traditional lockup. Vaughan had victims in a number of states, including New Mexico, Arizona, Texas, Colorado, Wyoming, New Jersey, Oregon and Washington.
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