Vaughan's home could soon be sold at pennies on dollar

January 28, 2011

eyewitness news four has learned accused ponzi schemer doug vaughan's luxurious million dollar mansion could soon be sold. money from the sale would go to the invests he's accused of bilking out of 80 million dollars ... but it won't be very much. cristina rodda has a look. i know a lot of people are hoping there's an off shore account or a bundle of money buried in the backyard that doesn't seem to be the case. george moore-- an attorney handling doug vaughan's personal bankruptcy case says vaughan's properties are not lling-- and when they do there's very little money coming in. the former mega realtor's own massive mansion is under contract but the price dropped to one point three million dollars. since there's a mortgage-- if it's sold it'll only bring in about one hundred thousand dollars to vaughan's estate. some people - including investors -- are fighting the sale of the mansio. the say it's worth more. "the usual response is if you don't think the price is high enough bri your check book to court and write us a check for a higher amount. vaughan's ferrari also sold-- but he owed so much money on it-- only one one thousand dollars went to his estate. the sale of his golf cart fared better. nearly two thousand dollars went to his estate. more says the bottom line is slim for the hundreds of investors vaughan is accused of stealing 80 million dollars from. there will be some pool of funds hopefully several thousand dollars but even if it's a million by the time the administrative expenses are paid, it's maybe one percent to the investors. cristina rodda kob eyewitness nes four. bankruptcy attorneys are still trying to get back a corvette and jewelry vaughan gave to his girlfriend-- which they hope to sell as well