doug vaughan arrested today in that multi-million dollar ponzi scheme investigation. we just got our hands on a 30- count indictment-- that claims the fraud went on for years. let's go right to cristina rodda-- at the federal courthouse-- she's been following every step of the vaughan case. cristina? this is a day hundreds of doug vaughan's investors have been waiting for. this is the indictment right here-- it alleges doug vaughan stole 74 million dollars from 600 hundred investors in a ponzi scheme. at a press conference this morining-- u.s. attorney kenneth gonzales explained 63 year old doug vaughan was arrested at 8 this morning at a north valley home by the fbi, state regulation and licensing department and secret service.. vaughan was indicted by a federal grand jury on 30 counts of mail and wire fraud, money laundering and false writings and documents. gonzales says vaughan began his ponizi scheme as a note program-- where he would take money from invstors -- promising them between 8 and 40 percent return on their investment. "the magnitude i think was is profound . i mean we are talking about a lot of money and a lot of people who had trusted mr vaughan so i think the magnitude of it all was certainly suspected but the more we got into it certainly confirmed that this was a sophisticated scheme. u.s. attorney gonzales said vaughan began the note program in 1993 but it wasn't until 2005 the ponzi scheme began. gonzalez adds state investigators were first tipped off to the alleged scam by an investor. doug vaughan is expected in court today at 2 in the afternoon for his first appearance. the u.s. attorney hopes the arrest brings some comfort to the hundreds of investors. live from the federal courthouse downtown cristina rodda konb eyewitness 4
