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PAROLE DENIED FOR FORMER FORMER SHOALS INSURANCE SALESMAN

RONALD WARREN POWELL

MONTGOMERY– The Alabama Board of Pardons and Paroles denied parole for a former Muscle Shoals Insurance agent convicted of fraud.

According to Matt Estes, spokesman for the parole board, 58-year-old Ronald Warren Powell, also known as Ronnie Powell, had his application for parole denied on Tuesday morning.

Powell, who operated Tom Jones Financial on 2nd Street in Muscle Shoals, was convicted in 2018 in Colbert County Circuit Court of insurance fraud and securities fraud, Judge Jackie Hatcher presiding. He was sentenced to seven years and five years on the two charges to run concurrently

According to court records, Powell defrauded his victims out of almost $800,000.

One of Powell’s victims was a Sheffield physician and the other an elderly couple from Muscle Shoals who reportedly lost over $100,000.

Initially, Powell was also charged with financial exploitation of the elderly. That charge was dismissed as part of Powell’s plea agreement.

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