Former Anderson County Councilman Ron Wilson is expected to enter a guilty plea on charges of mail fraud.
According to WSPA, Wilson is expected to plead guilty to two counts of mail fraud during a hearing scheduled for Monday.
Wilson was charged with mail fraud in April, after he allegedly “knowingly devised a scheme or used an artifice to defraud and used the United States mail in executing this scheme.”
Earlier this year, State Attorney General Alan Wilson filed a complaint against Wilson which alleged that Wilson had promised investors he would invest in silver on their behalf through his company Atlantic Bullion and Coin, but had never actually purchased or delivered any silver.
The mail fraud charges are the only criminal charges that have been filed against Wilson, but he faces a civil action and two lawsuits in connection with the alleged Ponzi scheme
The action charges Wilson and AB&C with fraud in connection with operating a $90 million Ponzi scheme, and alleges that Wilson and AB&C violated the Commodity Exchange Act and CTFC regulations.
The agency's complaint charges that Section 6(c)1 of the CEA and CTFC's Regulation 180.1 (a), “prohibiting the use of any manipulative or deceptive device, scheme or contrivance to defraud in connection with a sale of contract of any commodity interstate commerce” were violated.
According to the complaint, the alleged Ponzi scheme operated for at least 11 years, from 2001 to Feb. 29 2012.