Update: Ronald Warren Powell has been arrested in Colbert County. Authorities say Powell was taken into custody yesterday and charged with:
Financial Exploitation of the Elderly
Sale of Unregistered Securities
Sale of Securities by an Unregistered Agent
First Degree Insurance Fraud – Two Counts
First Degree Theft – Two Counts
Powell has reportedly made bail and faces an arraignment within the month.
From August 2017: A Muscle Shoals insurance agent who was in trouble with the state securities commission two years ago, has again run afoul of the law. Authorities say a Limestone County grand jury has indicted Ronald Warren Powell, aka Ronnie Powell, of Tom Jones Insurance and Financial Services Group on charges of defrauding an elderly client of possibly millions of dollars.
Powell, 55, immediately bonded out of the Limestone County Jail. His attorney is James Irby. Tom Jones Insurance and Tom Jones Insurance and Financial Services are not connected, although both business are spin-offs of the same company. This from a 2015 Shoalanda blog:
…on Tuesday the Alabama Securities Commission issued a 27 point document concerning the Tuscumbia/Muscle Shoals business. The final paragraph states in part:
Accordingly, it is hereby ordered that (Ronnie) Powell be barred from transacting business as a dealer, agent, investment adviser, investment adviser representative; that Powell and (Tom Jones Agency) be barred from performing any function or activity of the securities business in Alabama. (Order No. OB-2015-0008)
A sad end to a once great business?