Vaughn Co. reaches operating agreement with SEC

it is a big day for the vaughan company of realtors and their former ceo doug vaughan the company– that filed for chapter 11 bankruptcy is meeting behind closed doors with the federal government s securities and exchange division our austin reed was outside the federal court building all morning he s live in our newsroom now– to break down what s happened so far austin doug vaughan is expected to show up in court by 1-30 but already– there s been lots of things discussed about the future of his former company this– just a day after the s-e-c– filed charges against vaughan– for an investment scheme– claiming he stole 80 million dollars many of vaughan s investors started showing up for this creditors meeting by 8 this morning a u s trustee is presiding they re looking over the chapter 11 bankruptcy filing as the interim ceo of the vaughan company of realtors is testifying they ve also been going through accounting
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12 01 pm records and tax returns they all came to an agreement that the vaughan company can continue operating but they won t have as many real estate agents and a few of the company s account managers will be let go investors we talked too today that showed up to the meeting are hoping for good news but are still very upset– wanting to know what happened to their money 08 55 i wanna ask the questions and of course i wanna get her money i am very disappointed in you as a human being my daughter who is handicap and she is dependent on that 10 000 dollars that you stole from her and i don t feel very good towards you now the vaughan company still owes millions of dollars and will close some of their bank accounts investors are still waiting to find out if they ll get any of their money back we have a crew inside the meeting right now and will bring you much more tonight at 5 coming up at 12- 30 why some
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12 02 pm investors feel doug wasn t the only one behind this p