State Treasurer Suspended After Indictment on Drug Charges

COLUMBIA, S.C. (AP, WLTX) -- South Carolina Treasurer Thomas Ravenel has been suspended from office, following his indictment by a federal grand jury for distribution of cocaine.

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The indictments accuse Ravenel, 44, and Michael Miller, 25, of distributing less than 500 grams of cocaine starting in late 2005. They're officially indicted on charges of conspiracy to possess and intent to distribute.

Officials say Ravenel bought the drugs from Miller to share with other people. U.S. Attorney Reggie Lloyd says Ravenel didn't sell any of the drugs. Lloyd says the investigation is just beginning.

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Thomas is also the founder of Ravenel Development Corp., a commercial real estate development company. As well, he serves as the state chairman for former New York mayor Rudy Giuliani's presidential campaign. Late Tuesday, Giuliani's campaign announced he stepped down from that role.

Rudy! Rudy! Rudy!