Former Albuquerque real estate executive Doug Vaughan is due in court Wednesday to plead guilty to charges stemming from allegations he ran Ponzi scheme that swindled some 600 investors out of $74 million.
Vaughan's attorney, Amy Sirignano, last week told The Associated Press Vaughan would be changing his plea to guilty in the case, but that details of the agreement were still being worked out.
Vaughan is scheduled to appear in court in Santa Fe Wednesday afternoon.
The change of plea hearing was scheduled just a few weeks after court documents were unsealed showing Vaughan's long-time assistant planned to testify against him.
Victims have been identified in New Mexico, Arizona, Washington, Oregon, New Jersey, Texas and Colorado.
Disgrace: Phoenix VA Dumps Sick Veterans Into 'Secret Waiting Lists,' Some Die of Negligence | Guy Benson
Dem Governor of Illinois Condones Comparison Between Black Republicans and Jewish Nazis | Heather Ginsberg
Oversight Committee Members Demand Answers About DOJ Role in Targeting Conservative Groups With the IRS | Katie Pavlich