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

ShoalsInsider.com – Keeping You Informed

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

SHOALSINSIDER.COM – Keeping You Informed