Thursday, April 30, 2015

Raffle, Snaffle/Tom Jones Insurance & Financial Services Bites the Dust?


Florence businessman Harold Lewis says Phillip Pettus and Lynn Greer want a raffle, not a lottery. Perhaps Mr. Lewis could explain the difference to us? Then perhaps he could explain the difference between socialism and communism or an illegal alien and an undocumented resident.

Let's see...a lottery has a cash price, while a raffle has a prize worth money. A lottery ticket usually costs around two bucks, while a raffle ticket can cost much more. A lottery may have more than one winner, while a raffle usually has just one prize. Any other differences? Please let us hear, Mr. Lewis.

And we see the Lauderdale County Commission didn't appreciate Pettus and Greer volunteering them for oversight of this raffle/lottery. The commission actually seems to know trouble when it sees it...at least some of the time.

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NOTE: Tom Jones Insurance & Financial Services was spun off from Tom Jones Insurance Agency in 2005, according to officers with the latter.


For some time we've been sent information/documents concerning the owner of Tom Jones Insurance & Financial Services and the company's business endeavors which many were comparing to a Ponzi scheme. Until now we haven't commented on the alleged problems at the agency since we felt there was a very slight chance of a personal vendetta and most of the documents would require a juris doctor to fully comprehend them. In other words, for all we knew some of the charges levied against the company might be comparable to a restaurant losing two points off its health score because the lid to an outside dumpster was blown open.

Click to Enlarge

However, 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?



Shoalanda

3 comments:

  1. Tom Jones Insurance in Tuscumbia, and Tom Jones Financial in Muscle Shoals are two totally different companies, owned and operated by different people. Tom Jones Insurance has no affiliation with Ronnie Powell, and hasn't for several years

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  2. Replies
    1. As stated in the article, this order was issued by the Alabama Securities Commission. Formal legal charges may follow. The Securities Commission regulates who may conduct such business in the state.

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