2nd man indicted in Upstate silver buying scheme

Posted: 10.11.2012 at 12:29 PM

A second man has been indicted in what prosecutors say was a multi-million dollar Ponzi scheme involving precious metals. / MGN

ANDERSON, S.C. (AP) -- A second man has been indicted in what prosecutors say was a multi-million dollar Ponzi scheme involving precious metals.

A federal grand jury charged 60-year-old Wallace Lindsey Howell with mail fraud.

Prosecutors say Howell worked with former Anderson County Councilman Ronnie Wilson on a scheme where they promised to buy and sell silver for customers. But authorities say the men invested little of the $90 million, either losing it or keeping it for themselves.

It wasn't known whether Howell had a lawyer.

Wilson pleaded guilty to mail fraud in July and faces up to 20 years in prison when he is sentenced.

Related Links

		Receiver to sell silver seized in SC Ponzi case
		SC councilman facing new federal charge in alleged Ponzi scheme
		Councilman charged with running ponzi scheme

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