Randa Phillips News Today

Douglas Lien, 82, also will pay nearly $5 million to 23 living victims who requested restitution and serve three years of probation.

Douglas Lien, 82, entered a guilty plea to one count of securities fraud and four counts of wire fraud.

Bill and Dayna Robinson purchased the Allen Advocate in 1982. The newspaper is dedicated to the citizens of Allen and surrounding community. It is a weekly publication that contains 100% local news and features. Some of the popular columns include "One Pharmacist's View" by Wayne Bullard and "Out and About" by Linda Knighten. Special feature stories by Randa Phillips and

View Comments SANTA FE - An unregistered Santa Fe investment adviser dubbed a "mini-Madoff" was ordered to pay nearly $10.4 million in restitution and penalties after engaging in a Ponzi scheme for 20 years involving 45 investors across the country. A federal judge issued a consent order April 7 for a permanent injunction against Douglas Lien, 79, after the Securities Division of the New Mexico Regulation and Licensing Department issued a cease-and-desist order against Lien. Among the vi...