On November 13, 2012, Wilson was sentenced to almost 20 years in prison for operating a "Ponzi Scheme" from 2001 to 2012 that swindled investors of almost $90,000,000. In the scheme, he convinced retirees, friends, business associates, fellow members of the SCV and others to take cash from retirement accounts and insurance policies, as well as more liquid cash, and invest in his silver investment business, Atlantic Bullion & Coin, Inc. He promised he would monitor "key indicators", invest accordingly, and rake in large profits. He never bought silver for most of his clients, telling them that the silver was in a Delaware depository. (The depository had never heard of Wilson.) As with all Ponzi schemes, new invested money was instead used to pay earlier investors and keep the scheme alive. Besides time served, his sentence requires restitution of $57,401,009. A web site has been set up to assist victims of the Wilson scheme in making claims, as well as providing news and information. Several investors who received unearned profits were sued to retrieve the money. In 2014, Wilson received an additional six months on his prison sentence due to attempts to hide assets that involved his brother and ex-wife, as reported by
Matthew Cox to the United States Secret Service. In 2021, he was removed to a halfway house, then to home confinement. He will remain on probation until 2029. On December 12, 2024, Wilson was commuted by President Joe Biden. Thus, ending his sentence on December 22, 2024. ==See also==