Ronnie Wilson charged with mail fraud - FOX Carolina 21

Ronnie Wilson charged with mail fraud

Posted: Updated: April 4, 2012 04:27 PM
GREENVILLE, SC (FOX Carolina) -

Former Anderson County Councilman Ronnie Wilson, 64, was arrested Wednesday in connection with mail fraud charges, according to U.S. Attorney Bill Nettles.

In mid-March, The South Carolina Attorney General's Office released court documents that showed Wilson was named in a complaint against Atlantic Bullion and Coin, an Easley company he started in 1985.

According to the documents, Wilson duped investors across 25 states into thinking they were buying silver and making big profits. The documents said that in reality, Wilson never bought any precious metals and was paying investors' lofty dividends with other investors' money.

Two days later, Secret Service agents raided the former councilman's business, taking boxes of documents from the office.

On Wednesday, Nettles said that Wilson turned himself in to U.S. Marshals on mail fraud charges in connection with the multi-million-dollar Ponzi scheme.

According to the criminal complaint, in addition to failing to purchase the precious metals for his clients, Wilson altered clients' account statements to reflect different prices and numbers of shares from that found on original orders and account statements.

Wilson was released from jail on $1 million bond.

If convicted, Wilson faces up to 20 years in prison and a $250,000 fine.

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