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(6,907 posts)
Wed Nov 14, 2012, 12:31 PM Nov 2012

Racist Former SCV Leader Gets 19 Years in $57 Million Ponzi Scheme

Imagine that, a right wing racist nut conning people out of their money - who'd of thunk it?


A man who was once seen as a genteel Southerner defending the “honor” of the Confederacy but who secretly lived lavishly on other people’s money now faces the next 19 years in a federal prison cell — possibly in solitary confinement.

The first jolt for 65-year-old Ron Wilson — former national leader of the southern heritage group Sons of Confederate Veterans (SCV) — may have come when he walked into a packed courtroom in Greenville, S.C., yesterday to be sentenced for the $57.4 million silver bullion Ponzi scheme he operated for more than a decade. There were so many victims who wanted to address the court that a lottery had to be held to determine who could speak, according to media accounts. Many of his 800 identified victims expect to get very little restitution, saying their lives are forever ruined by the swindle Wilson carried out.
Wilson’s public life didn’t end there. In 2005, over the objections of the state’s superintendent of education, Wilson, then an Anderson County Council member, was elected to serve on the South Carolina Board of Education, weighing in on in the approval of textbooks and curriculum for the state’s public school students.

Meanwhile, at his Greenville-based business, Wilson told customers to give him their money so he could wisely invest in silver on their behalf — silver that he claimed was being held in a depository in Delaware. Charging documents say AB&C “did not purchase silver in sufficient quantities” to match his investors’ funds and “did not have silver holdings at a depository in Delaware.” As a further part of his rip-off, Wilson “created fraudulent account statements showing that [his] clients owned large quantities of silver when, in fact, no silver had been purchased” on their behalf.

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Racist Former SCV Leader Gets 19 Years in $57 Million Ponzi Scheme (Original Post) d_r Nov 2012 OP
... 798 investors ... lost $57.4 million ... struggle4progress Nov 2012 #1
Excellent News, Sir The Magistrate Nov 2012 #2
Anderson, S.C. is where I was born and raised. I left years ago because of this kind of Lint Head Nov 2012 #3
The Sheeple got fleeced, Wellstone ruled Nov 2012 #4

Lint Head

(15,064 posts)
3. Anderson, S.C. is where I was born and raised. I left years ago because of this kind of
Wed Nov 14, 2012, 12:43 PM
Nov 2012

endemic racism and plain criminal deception and thievery when it comes to public officials. He is not the only case of men pining for the Confederacy and the old plantation days.

I have immediate relatives living in Greenwood, S.C. who are right wing Fox News zombies and it was so gratifying to hear the story of Edith Childs who used the phrase FIRE IT UP! READY TO GO!

People there believed this criminal because they were like minded and trusted him. Never trust a racist or bigot.


Wellstone ruled

(34,661 posts)
4. The Sheeple got fleeced,
Wed Nov 14, 2012, 01:05 PM
Nov 2012

Damn,Karma is wonderful. Bet most of these sheep are NRA members living on SS or Pensions. We know one of them......He He. Dumb Sh*t!!

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