Ravenel pleads guilty

September 6, 2007

COLUMBIA, S.C.---Former South Carolina treasurer Thomas Ravenel pleaded guilty today to a cocaine charge in federal court.

Ravenel had resigned after his first court appearance earlier this summer.

He will be sentenced later. Ravenel faces up to 20 years in prison and a $1 million fine.

His plea agreement calls for a reduced sentence if he helps prosecutors with their investigation.

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