Monday, June 19, 2006
VAUGHN'S MOTHER CONNED OUT OF $25 MILLION
Actor VINCE VAUGHN's mother has been conned out of $25 million (GBP14 million) after falling for a scam investment scheme.
SHARON VAUGHN, 64, was once ranked one of America's top money managers but was swindled by a false hedge fund promising a 10 per cent return.
CARRIE COOLIDGE of Forbes magazine tells the New York Daily News, "She was incredibly naive. Who would believe you'd get 10 per cent a month - and that they'd donate a portion of the proceeds to charity?"
According to reports, Vaughn has been helping investigators trap the scammers, but has lost her licence and been forced to pay $809,000 (GBP450,000). Around $21 million (GBP12 million) has reportedly been recovered and repaid to investors. 06/19/06 03:42 courtesy WENN