Suburban Phoenix man pleads guilty in Ponzi scheme
GREENVILLE, S.C. -- A 22-year-old Arizona man has pleaded guilty as part of a multimillion dollar Ponzi scheme in South Carolina.
U.S. Attorney Bill Nettles said Wednesday that Benton T. Hall of Mesa, Ariz., had pleaded guilty to conspiracy to obstruct justice.
Hall was charged as part of the case of Ronnie Wilson, a former Anderson County councilman currently in federal prison after pleading guilty to mail fraud.
Authorities said Wilson took millions of dollars from investors through his business, Atlantic Bullion & Coin, but never actually bought the silver bullion he promised. Authorities said Hall helped another man working with Wilson hide about $1.5 million in property, gold and silver coins and cash when law enforcement began investigating.
Hall faces up to five years in prison when he is sentenced.