Arizona Man Pleads Guilty in Multimillion Dollar SC Ponzi Scheme

Man from Arizona Pleads Guilty to Federal Fraud Charges in South Carolina Ponzi Scheme

ponzi schemeA 22-year-old Arizona man, who was indicted with his brother this past spring, pleaded guilty to charges for his role in a multimillion dollar Ponzi scheme in South Carolina.

Benton T. Hall, from Mesa, Arizona, has pleaded guilty to charges of conspiracy and obstruction of justice.

Hall and his brother Gordon were indicted in March of this year for their alleged involvement in a Ponzi scheme run in South Carolina by Ron “Ronnie” Wilson, a former Anderson County councilman who is currently serving almost 20 years for his 11-year-long Ponzi scheme.

The Hall Brothers were indicted for conspiring with Wallace Lindsey Howell, after Ron Wilson’s arrest, to hide $1.5 million of Howell’s money and set up payments to him for the rest of his life, in an effort to prevent him from being prosecuted as part of the Ponzi scheme. They also used some of the money to pay Howell’s $3.5 million bond in the case.

Howell pleaded guilty in January of this year to wire fraud conspiracy charges. Benton Hall faces up to 5 years in prison. His sentencing hearing will be scheduled at a later date.

Ron Wilson’s Ponzi Scheme and Federal Charges

Last Summer, the former South Carolina county councilman pleaded guilty to mail fraud charges related to a Ponzi scheme he had run for 11 years, which collapsed after a federal indictment in March 2012. Wilson’s plan reportedly defrauded investors of almost $90 million.

Wilson gathered investors in his business, saying that he had silver stored in a facility in Delaware.

“I began operating what is generally known as a Ponzi scheme,” Wilson’s confession says. It says Wilson told clients he would buy silver at low prices and sell at high prices, but “most of the time I did not buy silver.”

He kept fictitious books, according to his own account, and issued fraudulent quarterly statements to his investors.

“He lied to us with a straight face,” said Gloria Davis, a Travelers Rest investor who once had $95,000 on Wilson’s books. “We got statements quarterly. I was just stunned that I heard he had done this. He should be ashamed of himself. I wish they’d walked him out in handcuffs.”

Assets seized in the ongoing Ponzi scheme case will go to a receiver to repay investors some of the money that they have lost.

The Strom Law Firm Can Help With Federal Charges, Including Indictments for Ponzi Schemes

The federal criminal defense attorneys at the Strom Law Firm, LLC will fight to protect your rights and your personal and professional future.

Whether you are charged with:

  • a computer crime
  • mail fraud, wire fraud, or bank fraud,
  • a RICO violation
  • a drug crime,
  • tax fraud
  • making a false statement to a federal agent,

or any other Federal charge, you are likely facing a personal, family, social, business, and/or financial crisis unlike any you have ever faced before.

For experienced criminal defense attorneys who will fight for your rights and work to have your charges reduced or even dismissed, contact the federal charges attorneys at the Strom Law Firm, today. We offer a no-cost, confidential consultation to discuss our experience and knowledge of the system can help you. 803.252.4800

Speak Your Mind