Alleged Wilson ponzi scheme prompts desist order bill - FOX Carolina 21

Alleged Wilson ponzi scheme prompts desist order bill

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EASLEY, SC (AP/FOX Carolina) -

A new bill introduced after an alleged multi-million dollar Ponzi scheme in Anderson County would require that all cease and desist orders be made public. 

Anderson Sen. Kevin Bryant says investors of Ron Wilson and his company, Atlantic Bullion & Coin, should have known the business had been ordered to stop selling securities in 1996. Under current law, such orders are not required to be made public. 

Authorities are investigating claims that Wilson's coin business was running a multi-million dollar Ponzi scheme with investors' money. 

Secret Service agents raided his office last week, looking for computers, files and silver. A complaint by the South Carolina attorney general's office says investors were told their money was being used to buy silver, but little was purchased for them.

On Monday, more than 300 people met to discuss a class action lawsuit with attorneys. All of the people there gave Wilson and his company their money.

Many people said they were sucked into Atlantic Bullion and Coin through a financial planner in Easley.

Copyright 2012 FOX Carolina (Meredith Corporation). All rights reserved. The Associated Press contributed to this report.

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