Silver seized in Wilson Ponzi case sold for $675K - FOX Carolina 21

Silver seized in Wilson Ponzi case sold for $675K

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GREENVILLE, SC (AP) -

An attorney appointed to oversee assets in a multi-million dollar Ponzi case has sold precious metals seized by authorities.

Greenville attorney Beattie Ashmore says he sold the gold and silver last week for $675,000.

U.S. District Judge Michelle Childs had ruled that Ashmore could use the proceeds as part of an eventual distribution to wronged investors.

Ronnie Wilson pleaded guilty to mail fraud in July. Authorities say hundreds of people invested about $90 million with the former Anderson County councilman, who told investigators he bought silver and shipped it to customers. But authorities say Wilson changed receipts to keep the scheme going and lost nearly $60 million.

Wilson has said he will make full restitution. He faces up to 20 years in prison when he is sentenced.

Copyright 2012 The Associated Press. All rights reserved.

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