CBS Atlanta – A 42-year-old Atlanta man made an initial appearance Thursday before a United States Magistrate Judge after being indicted by a federal grand jury on charges of wire fraud and mail fraud arising from a $7 million Ponzi scheme.
According to United States Attorney Yates, from July 2004 through at least March 2008, Charles Michael Vaughn recruited at least 25 individuals to invest in a purported “hedge fund” operated by his company, “CM Vaughn, LLC,” based in Atlanta.
