SC Man Facing 20 years in $90M Ponzi Case
GREENVILLE, S.C. (AP) _ A man accused of masterminding a multi-million dollar Ponzi scheme will soon learn his fate.
Ronnie Gene Wilson is being sentenced Tuesday in federal court in Greenville. He pleaded guilty to mail fraud in July and faces a maximum sentence of 20 years in prison.
Prosecutors say the former Anderson County council member and another man promised to buy and sell silver for customers but invested little of the $90 million they took in, either losing it or keeping it for themselves.
Wilson has been free on $1 million bond and has said he will make full restitution. The second man, Wallace Lindsey Howell, also is charged with mail fraud.
Wind: 6 MPH
Humidity: 74 %