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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