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View Full Version : New 'Precious Metals' Ponzi Allegations In South Carolina; Secret Service Enters Probe



PPBlog
03-17-2012, 10:21 AM
It's still early in the probe. But the state of South Carolina says Ronnie Gene Wilson and Atlantic Bullion and Coin Inc. were running a “precious metals” Ponzi scheme that gathered about $70 million.

Wilson Files Complaint Filed to Stop Multi-Million Dollar Ponzi Scheme | South Carolina Attorney General (http://www.scag.gov/archives/6467)

The U.S. Secret Service executed search warrants Thursday.

Secret Service agents search Ron Wilson's business » Anderson Independent Mail (http://www.independentmail.com/news/2012/mar/15/upset-customers-find-ron-wilsons-business-locked/)

Ronnie Gene Wilson is referenced in this unflaterring 2003 story on the website of the Southern Poverty Law Center:

40 to Watch: Leaders of the Radical Right | Southern Poverty Law Center (http://www.splcenter.org/get-informed/intelligence-report/browse-all-issues/2003/fall/40-to-watch?page=0,8)

The Atlantic Bullion story -- in its earlier hours -- is reminiscent of the earliest hours of the AdSurfDaily story in 2008.

As was the case with ASD, both the state and federal governments are involved in the Atlantic Bullion investigation. Meanwhile, both the ASD story and the Atlantic Bullion story involve charismatic figures entrusted with tens of millions of dollars, possible elements of affinity fraud, previous brushes with securities regulators, alleged purveyors involved in local politics, political donations and possible ties to extremist "causes."

It will be interesting to watch as the investigation evolves.

It's also worth noting that South Carolina was home base for the "3 Hebrew Boys" Ponzi scheme, which devolved into an ASD-like spectacle involving purported "sovereign citizens."

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