Ron Wilson To Be Sentenced on Mail Fraud Charges Nov. 13

Former Anderson County Councilman Ron Wilson is set to be sentenced on mail fraud charges next month.

Wilson is due to appear at a sentencing hearing in federal court on Nov. 13.

Investigators say Wilson bilked his silver investors out in what they're calling a $90M Ponzi scheme.

Beginning in 2001 and continuing to early 2012, Wilson operated a Ponzi scheme, according to U.S. Attorney Bill Nettles.

Wilson told investors in his Atlantic Bullion & Coin business that he would buy silver on their behalf and hold that silver at Delaware depository, Nettles said.

But Wilson did not purchase the silver as he claimed, and lied to his clients about their supposed silver holdings at the Delaware depository and created fictitious account statements detailing silver purchases that were never made, Nettles said.

Wilson plead guilty to the mail fraud charges in July, and investigators say he is cooperating with them as the investigation continues.

He posted a $1 million bond.

The maximum penalty Wilson faces is 20 imprisonment and a $250,000 fines for each count. Since he is charged with two counts of mail fraud, Wilson could be facing up to 40 years in prison.

Last week a Mauldin man was indicted for allegedly conspiring with Wilson to commit the mail fraud.

The indictment charges that the Wallace Lindsay Howell and Wilson agreed to siphon profits from two investors who Howell brought to AB&C. Howell’s AB&C account was funded by profits transferred from the victims’ accounts, and, over time, Howell withdrew over $3 million for his own use, according to a release.

If convicted, Howell could receive 20 years imprisonment and a $250,000 fine, according to the U.S. Attorney's Office.