Live Breaking News & Updates on Westend investments

Stay informed with the latest breaking news from Westend investments on our comprehensive webpage. Get up-to-the-minute updates on local events, politics, business, entertainment, and more. Our dedicated team of journalists delivers timely and reliable news, ensuring you're always in the know. Discover firsthand accounts, expert analysis, and exclusive interviews, all in one convenient destination. Don't miss a beat — visit our webpage for real-time breaking news in Westend investments and stay connected to the pulse of your community

'Mini-Madoff' found to have conned Santa Fe women out of $10.4M

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 victims were three women in Santa Fe, including Randa Phillips, 71, who approached the Securities Division in May 2019 with her complaint against Lien.
The Securities Division forwarded the case to the Commodity Futures Trading Commission, which prosecuted Lien in U.S. District Court.

Chicago , Illinois , United-states , New-mexico , New-mexican , Randa-phillips , Norma-bell , Williamp-johnson , Bernie-madoff , Licensing-department , Commodity-futures-trading-commission , National-futures-association