- Associated Press - Saturday, November 7, 2015

ANDERSON, S.C. (AP) - Court officials say victims of a former Anderson County Council member’s $57.4 million Ponzi scheme may soon receive around $7 million in payouts.

The Independent Mail of Anderson reports (https://bit.ly/1NiNkKb) the office of court-appointed receiver Beattie Ashmore, who is charged with recovering money for the victims, filed paperwork Friday setting up a timetable for payments.

Former council member Ron Wilson has been convicted of running one of the largest Ponzi schemes in South Carolina history. The 68-year-old Wilson is in a Kentucky prison and is scheduled to be released May 2030.

The Ponzi scheme took money from nearly 800 church members, retirees and others in South Carolina and across the U.S.

Wilson’s scheme, selling silver certificates but never actually buying the precious metal for his clients, lasted almost a decade.

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