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Former Tennessee County Commissioner Punished for Ponzi Scheme

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Former Robertson County (Tenn.) Commissioner Shannon Polen was sentenced in U.S. District Court on Thursday to nearly six years in federal prison and ordered to pay more than $10.7 million in restitution to victims of his investment schemes, the Tennessean reported on Sunday. Polen pleaded guilty in December 2012 to two counts of mail fraud, two counts of wire fraud, one count of bank fraud and one count of money laundering stemming from three separate investment schemes that defrauded victims out of about $15 million. He is currently serving a 12-year sentence handed down in August 2012 in Davidson County, Tenn., for two counts of securities fraud and two counts of theft over $60,000. His federal sentence will be served after the completion of his state sentence, U.S. District Judge Todd Campbell ordered. Polen was arrested in March 2011 while still serving on the commission, but he later resigned.

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