South Carolina treasurer indicted on drug charges

Published Wednesday, June 20, 2007

COLUMBIA, S.C. (AP) - South Carolina Treasurer Thomas Ravenel, a former real estate developer who became a rising political star after his election last year, was indicted yesterday on federal cocaine charges.

The millionaire is accused of buying less than 500 grams of the drug to share with other people in late 2005, U.S. Attorney Reggie Lloyd said. Ravenel, 44, is charged with distribution of cocaine, which carries a maximum sentence of 20 years in prison.

The investigation into Ravenel arose from a drug case last year in Charleston, Lloyd said. State Law Enforcement Division Chief Robert Stewart said his agents were aware of the allegations before Ravenel was elected in November, but they didn’t have enough information to pursue criminal charges. The case was turned over to the FBI in April.

South Carolina agents turned the investigation over to the FBI because Ravenel is in charge of handling state financial decisions, Stewart said.

The man accused of selling Ravenel the drug, Michael L. Miller, is in custody on the same charge.

Ravenel will be allowed to turn himself in at a July 9 bond hearing, authorities said.

Gov. Mark Sanford suspended Ravenel immediately based on the serious nature of the charge. The governor said he would name an interim treasurer soon.

Thomas Ravenel is also the state chairman for former New York Mayor Rudy Giuliani’s presidential campaign. Giuliani’s campaign issued a statement saying Ravenel had stepped down.