Powell agreed to start paying $1,000 a month in restitution to his victims.

Powell pleaded guilty last December to insurance fraud charges.

In all, Powell was accused [...]]]>

TUSCUMBIA– Convicted businessman and fraudster Ronnie Powell was back in Colbert County for a restitution hearing last Thursday in Judge Jackie Hatcher’s courtroom.

Powell agreed to start paying $1,000 a month in restitution to his victims.

Powell pleaded guilty last December to insurance fraud charges.

In all, Powell was accused of stealing close to one million dollars from his clients.

One of his victims was a local cardiologist and an elderly couple.

Powell was recently overheard on a recorded prison phone line moving large sums of money around that the state said would have easily paid off one of the victims.

Jeff Roland – Publisher

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Ronald Warren Powell remained emotionless as Colbert County Presiding Circuit Judge Jackie Hatcher denied his probation, thus imposing the sentence of 7 years in prison. Powell pled guilty to a charge of Insurance and Securities Fraud [...]]]>

TUSCUMBIA- Probation was denied at a hearing today for a former Muscle Shoals insurance man.

Ronald Warren Powell remained emotionless as Colbert County Presiding Circuit Judge Jackie Hatcher denied his probation, thus imposing the sentence of 7 years in prison. Powell pled guilty to a charge of Insurance and Securities Fraud in December 2018.

Several of Powell’s victims were in attendance. The neice of an elderly couple who were victims spoke at the hearing saying, “He totally wiped out my aunt and uncle’s savings,”

Powell was led away in handcuffs as soon as Judge Hatcher denied the probation.

According to the plea agreement, Powell must repay $664,500 to a local physician and $117,059 to a retired couple in Muscle Shoals.

Sources familiar with the situation say Powell may have other cases forthcoming in Mississippi.

Powell will remain in the Colbert County Jail until he is transferred to Kilby Correctional Facility for processing.

Powell was also CEO of Blue Financial Inc. of Charlotte, North Carolina. According to their website, they specialize in retirement income planning.

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