SC bill would require desist orders to be posted

EASLEY, S.C. (AP) — A new bill introduced after an alleged multi-million dollar Ponzi scheme in Anderson County would require that all cease and desist orders be made public.

Anderson Sen. Kevin Bryant says investors of Ron Wilson and his company, Atlantic Bullion & Coin, should have known the business had been ordered to stop selling securities in 1996. Under current law, such orders are not required to be made public.

Authorities are investigating claims that Wilson’s coin business was running a multi-million dollar Ponzi scheme with investors’ money.

Secret Service agents raided his office last week, looking for computers, files and silver. A complaint by the South Carolina attorney general’s office says investors were told their money was being used to buy silver, but little was purchased for them.