The Federal drug trial for former South Carolina Treasurer Thomas Ravenel has been postponed after attorneys on both sides of the case requested more time to prepare. Jury selection was previously scheduled to take place on September 5, but a district court judge signed an order delaying the trial for Ravenel and co-defendant Michael Miller to November 8.

Ravenel resigned from his position as the state's top banker last month. It was the 45-year-old multimillionaire developer's first public appearance since his June 19 indictment on one federal count of possession with intent to distribute less than 500 grams of cocaine.

Prosecutors have said Ravenel shared the cocaine with his friends and did not sell the drug.

Ravenel's attorney entered a not guilty plea for him July 6. Ravenel was unable to attend the hearing because he was receiving treatment at a rehabilitation center.