Sentencing set in Wilson's Ponzi scheme - FOX Carolina 21

Sentencing set in Wilson's Ponzi scheme

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Ronnie Wilson enters the Federal Courthouse in Greenville. (July 30, 2012/FOX Carolina) Ronnie Wilson enters the Federal Courthouse in Greenville. (July 30, 2012/FOX Carolina)
GREENVILLE, SC (AP) -

A man charged in a multi-million dollar Ponzi scheme that involved buying silver is set to be sentenced.

Court records show Ronnie Wilson is expected in federal court in Greenville on Nov. 13.

Wilson pleaded guilty to mail fraud in July and faces up to 20 years in prison. 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. His bank accounts have been frozen, and he has been out of jail on $1 million bond.

Last week, Wallace Lindsey Howell was charged with helping Wilson keep the scheme going.

Copyright 2012 The Associated Press. All rights reserved.

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