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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Ronald Warren Powell

ATHENS–Authorities have arrested a Muscle Shoals insurance agent after he was indicted on charges of exploitation of the elderly and insurance fraud.

Investigators say Ronald Warren Powell aka Ronny, 55, of Brooke Drive, Muscle Shoals, has been charged with fraudulently taking possibly millions of dollars from an elderly client. Officials [...]]]>

Ronald Warren Powell

ATHENS–Authorities have arrested a Muscle Shoals insurance agent after he was indicted on charges of exploitation of the elderly and insurance fraud.

Investigators say Ronald Warren Powell aka Ronny, 55, of Brooke Drive, Muscle Shoals, has been charged with fraudulently taking possibly millions of dollars from an elderly client. Officials would not say how many victims were involved.

Powell operated Tom Jones Financial on 2nd Street in Muscle Shoals and was most recently working for another firm Blue Financial out of North Carolina.

According to Powell’s website, In addition to his career Ronny is a devoted and loving husband and father, and a man of faith. He enjoys playing tennis and golf, supporting Alabama college football, spending time with his family and attending church.

Sources at the state insurance department say Powell diverted millions of dollars of his customer’s money to himself.

Florence attorney James Irby is representing Powell.

“We plan to aggressively defend our client, Mr. Powell absolutely denies all of these allegations,” said Irby.

Powell is free on a $3,500 bond.

To view the indictment click below:

POWELLRONNIE

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