indicted on cocaine charges
South Carolina Treasurer
Thomas Ravenel was indicted Tuesday on federal cocaine charges.
Ravenel is also the state chairman for former New York Mayor
Rudy Giuliani's presidential campaign. Ravenel has stepped down
volunteer responsibilities with the campaign according to Rudy
According to the indictment, Ravenel is
accused of buying less than 500 grams of cocaine to share
with other people in late 2005. He is charged with distribution
which can carry a maximum of 20 years behind bars, if found
guilty. According to the U.S. Attorney Reggie Lloyd, the
indictment of Thomas Ravenel comes as a result of a Charleston,
As Ravenel was very close to the Republican
presidential candidate Rudy Giuliani, this scandal could
influence the betting odds on Giuliani's campaign. The British
online betting website
Bet365 has been offering odds
on Rudy Giuliani to win the 2008 Presidential Elections at 4/1,
making him the favorite among the Republican candidates to win.
Although there is no word yet from the oddsmaker, it is most
likely that the Ravenel cocaine scandal would change the odds
negatively for Giuliani.
According to the British bookie, Hilary
Clinton is the outright favorite with odds 7/4, followed by
Barack Obama with 3/1 and then Rudy Giuliani.
To see the full list of the betting odds on
the candidates, visit
Bet365 (U.S. citizens not
allowed to bet).
Published on 06/19/2007