Ex-councilman pleads guilty in SC Ponzi case
COLUMBIA, S.C. (AP) — A former Anderson County councilman has pleaded guilty to mail fraud charges in connection with a multi-million dollar Ponzi scheme.
U.S. Attorney Bill Nettles says Ronnie Wilson pleaded guilty in Greenville on Monday to two counts of mail fraud. He will be sentenced later and faces up to 20 years in prison.
Authorities say Wilson told customers he was buying and selling silver, but instead used the money for his scheme. Investigators think he lost $60 million of the $90 million invested with him.
Wilson’s plea agreement says he will open his books and make full restitution.
Wilson is a former member of the state Board of Education and national commander of the Sons of Confederate Veterans. He is also being investigated by the U.S. Commodity Futures Trading Commission.
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