Wilson Cooperators sentenced for role in Ponzi scheme

United States Attorney Bill Nettles announces that 66-year-old Cassandra Kendall Wilson of Woodruff and 60-year-old Timothy L. Wilson of Martin, Tennessee, were sentenced in federal court in Greenville for their involvement in a conspiracy to obstruct justice. United States District Judge J. Michelle Childs of Greenville imposed a period of 9 months of home confinement, 1 year of probation, a community service requirement of 200 hours for Timothy and 225 hours for Cassandra, and a curfew on both defendants. In passing sentence, Judge Childs granted a motion from the Government to depart downward because of substantial assistance in the prosecution and investigation of Ronnie Gene Wilson. Evidence presented at the change of plea hearing established that in late 2011 and early 2012, agents with Secret Service and state law enforcement officers began to investigate Atlantic Bullion and Coin and Ronnie Gene Wilson. It was discovered that Wilson operated what is generally described as a “Ponzi scheme.” In April 2012, Wilson confessed to operating the Ponzi scheme. On April 27, 2012, the United States District Court, with the consent of Wilson and the Government, appointed a Federal Receiver. The Court’s Order directed the Receiver to take immediate possession of all property, assets and estates owned, controlled, used, or in the possession of Wilson. During the course of the investigation, the Secret Service talked with Wilson on multiple occasions. On or about Sept. 20, 2012, agents interviewed Wilson about possible hidden assets and cash. Wilson was adamant that there were no hidden assets or cash. He stated that he had turned everything over to the Government. On Nov. 13, 2012, the District Court ordered Wilson to pay approximately $57 million in restitution to the 798 victims of the Ponzi scheme. He was sentenced to 235 months in prison. In April 2014, the Government recovered approximately $164,300. This money had been hidden in an ammunition can. Ron Wilson gave this money to Timothy L. Wilson to keep for him. The evening before Ron Wilson was sentenced in November 2012, evidence established that Ron Wilson visited the hotel room of Timothy L. Wilson in Greenville and gave him $7,000 in cash. In March 2014, Secret Service and the Receiver recovered another ammunition can with $172,859 inside. Ron Wilson had given this canister to Cassandra K. Wilson prior to his sentencing hearing. Agents of the United States Secret Service investigated the case. Assistant United States Attorney Bill Watkins of the Greenville office handled the case.