'Significant development' to be announced in Wilson ponzi scheme - FOX Carolina 21

'Significant development' to be announced in Wilson ponzi scheme investigation

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GREENVILLE, SC (FOX Carolina) -

U.S. Attorney Bill Nettles said he will announce "a significant development" Tuesday in the multi-million dollar Ponzi scheme involving former Anderson County Councilman Ron Wilson.

The announcement is expected to be made in the Commerce Club's Paris Ballroom at 55 Beattie Place in Greenville at 2 p.m.

In 2012, Wilson pled guilty in federal court to the scheme in which Wilson defrauded more than 900 investors across 25 states. The victims believed they were buying silver and making big profits, but Wilson never bought any precious metals and was paying investors dividends with other investors' money.

Prosecutors said investors lost nearly $60 million of the $90 million they invested with Wilson.

Wilson is currently serving a 19-year prison sentence in Florida.

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