Two Sentenced In South Carolina Ponzi Scheme

Home » Blog » Two Sentenced In South Carolina Ponzi Scheme

Two Sentenced In South Carolina Ponzi Scheme

Timothy and Cassandra Wilson, the wife and brother of Ponzi scheme mastermind Ron Wilson, were sentenced this month to nine months of home confinement and one year of probation for their participation in a conspiracy to obstruct justice by hiding assets in the scheme. U.S. District Judge J. Michelle Childs at the federal courthouse in Greenville, South Carolina also sentenced Timothy to 200 hours and Cassandra to 225 hours of community service. Both cooperated with the government’s investigation and were able to avoid jail time.

Former Anderson County, South Carolina Councilman, Ron Wilson, had earlier pleaded guilty to conspiracy to hide assets from federal investigators and is currently being held in jail, serving a sentence of nineteen and a half years. Authorities believe that almost eight hundred victims lost more than $57 million after investing in Ron’s company, Atlantic Bullion and Coin.

Investigators stated that Ron gave two ammunition canisters filled with $400,000 in cash and coins to Timothy and Cassandra.

In court, Timothy stated, “I’m truly sorry for my actions that have brought me here today . . . When I made the decision to come forward and turn the money in, I had such peace.”

Cassandra Wilson said, “I’ve never been on my own before, so this is scary. My heart goes out to the clients. I’ve said that from the beginning I feel sorry for them.”

If you or someone you know has lost money as a result of an investment or Ponzi scheme, please contact Richard Frankowski at 888-741-7503 to discuss your potential legal remedies or complete the contact form.

Free Case Evaluation

Call 888-741-7503 now or fill out the form above
to receive a free confidential consultation.
TEXT US888.741.7503