SC Treasurer Thomas Ravenel resigns

South Carolina Treasurer Thomas Ravenel resigned from office today, about a month after he was indicted on a federal cocaine charge. The 44-year-old Ravenel appeared in court for the first time to face the charge of possession with intent to distribute less than 500 grams of cocaine. His attorneys entered a not guilty plea earlier this month. Prosecutors have said he shared cocaine with his friends and did not sell the drug. Ravenel apologized to the state and to his family. He returned to the state Sunday from a treatment program in Arizona. US Magistrate Joseph McCrorey says Ravenel can attend another treatment program in New Mexico. He is to meet tomorrow in Charleston with probation officers. His next court appearance is scheduled August 21st. He faces up to 20 years in prison and a one million dollar fine if he is convicted. (Copyright 2007 by The Associated Press. All Rights Reserved.)