Friday, April 26 2013 1:30 PM EDT2013-04-26 17:30:18 GMT
Read more about the accusations made against Ronnie Wilson and Atlantic Bullion & Coin.More >
Read more about the accusations made against Ronnie Wilson and Atlantic Bullion & Coin.More >
GREENVILLE, SC (FOX Carolina) -
More than $62,000 was raised from the auction of former Anderson County Councilman Ronnie Wilson's belongings to help pay the victims of his Ponzi scheme that bilked investors out of $60 million.
Investigators said that Atlantic Bullion and Coin, a company run by former Anderson County Councilman Ronnie Wilson, duped more than 900 investors across 25 states into thinking they were buying silver and making big profits. They said Wilson never bought any precious metals and was paying investors' lofty dividends with other investors' money.
Wilson, 65, pleaded guilty in July 2012 to two counts of mail fraud as part of a plea deal. He is serving a 17-year sentence at a federal prison in Florida.
Attorney Beattie Ashmore, who is in charge of liquidating Wilson's assets and paying the victims with the proceeds, said he was very pleased with the amount raised during the auction. He said the total exceeded initial appraisals.
Ashmore said a live auction of Wilson's farm equipment is scheduled for April 27. He said the items being sold will include, a tractor, Gator Polaris and antique farm equipment.
Wilson's home, which was seized by the government, will also be sold to pay back victims of the scheme.
Federal agents also arrested Wallace Lindsey Howell, 60, in connection with the same scheme. He was charged with conspiracy to commit mail fraud. He pleaded guilty to wire fraud in January.
Copyright 2013 FOX Carolina (Meredith Corporation). All rights reserved.
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Ronnie Wilson enters the Federal Courthouse in Greenville. (July 30, 2012/FOX Carolina)
The entrance to the home of Ronnie Wilson, which has been seized by the government. (March 7, 2013/FOX Carolina)
