Wallace Lindsey Howell Arrested for Mail Fraud
connected with ponzi scheme
Contact Person: Beth Drake (803) 929-3000
Columbia, South Carolina---- United States Attorney Bill Nettles stated today that Wallace Lindsey Howell, age 60, of Mauldin, South Carolina, was arrested after being charged in an indictment with conspiracy to commit mail fraud, a violation of 18 U.S.C. § 1349. The maximum penalty Howell could receive is 20 years imprisonment and a $250,000 fine. Howell made his initial appearance before United States Magistrate Judge Jacquelyn D. Austin. Howell was detained and bond was not set.
The indictment charges that Howell conspired with Ronnie Gene Wilson. Wilson is the President and sole shareholder of Atlantic Bullion and Coin, Inc. (“AB&C”) in Easley, South Carolina. Indictment charges that Howell and Wilson agreed to siphon profits from two investors who Howell brought to AB&C. Howell’s AB&C account was funded by profits transferred from the victims’ accounts, and, over time, Howell withdrew over $3 million for his own use.
The case was investigated by agents of the United States Secret Service and the Greenville County Sheriff’s Office. The case is assigned to Assistant United States Attorney Bill Watkins of the Greenville office for prosecution.
The United States Attorney stated that all charges in this Indictment are merely accusations and that all defendants are presumed innocent until and unless proven guilty.