2nd Defendant Indicted in Silver Ponzi Scheme

Mineweb reported that a second defendant has been charged in connection with a $90.1 million silver Ponzi scheme instigated by a former national commander of the Sons of Confederate Veterans. The group has allegedly bilked $59 million from more than 1,000 investors in 25 states.

As quoted in the market news:

A federal grand jury has charged Wallace Lindsey Howell of Maudlin, South Carolina, of allegedly conspiring with former Anderson County, South Carolina, councilman Ronnie Gene Wilson to defraud and to obtain money by false and fraudulent pretenses related to silver investment accounts operated through Wilson’s company Atlantic Bullion & Coin from 2001 through Feb. 29, 2012.

Click here to read the full report.