From The State, June 6th, 2007:

State Treasurer Thomas Ravenel has been indicted on federal charges of conspiracy to distribute crack cocaine, federal and state authorities announced at a news conference at SLED headquarters this afternoon.

The Charleston Republican raised millions of dollars to unseat long-term Democratic incumbent Grady Patterson in November.

Ravenel, 44, is a millionaire real estate developer and the son of Arthur Ravenel Jr., a powerful South Carolina politician who served in the General Assembly and the U.S. House.

As treasurer, Ravenel is responsible for handling the state’s finances and investments. He also holds a seat on the powerful State Budget and Control Board, which controls much of the state bureaucracy. His salary is $92,007.