GREENVILLE, South Carolina — A former Anderson County councilman serving nearly 20 years in prison for his role in a Ponzi scheme has pleaded guilty to trying to hide some of the money he made from federal investigators.
Prosecutors said in a news release that 67-year-old Ronnie Wilson hid more than $175,000 from investigators in ammunition cans before he was sentenced in 2012. Authorities were seizing Wilson's money to give back to people who lost money in his fraudulent investments.
Authorities say Wilson promised to buy and sell silver for hundreds of customers through his business, Atlantic Bullion & Coin, but invested little of the $90 million taken in, either losing the money or keeping it for himself.
Wilson faces up to five additional years in prison when he is sentenced later.