$1 million bond set in SC silver buying scheme

GREENVILLE, S.C. -- A $1 million bond is set for a man charged as part of a multi-million dollar Ponzi scheme in Upstate South Carolina.

Court records show a federal judge in Greenville set the bond Wednesday for 60-year-old Wallace Lindsey Howell.

Last week, a grand jury charged Howell with mail fraud. Prosecutors say he worked with former Anderson County Councilman Ronnie Wilson on a scheme where they promised to buy and sell silver for customers.

But authorities say the men invested little of the $90 million, either losing it or keeping it for themselves.

Wilson pleaded guilty to mail fraud in July. He faces up to 20 years in prison when he is sentenced next month and is currently free on $1 million bond.