NASHVILLE, Tenn. -
Federal charges were filed Monday against Greenbrier businessman and former Robertson County Commissioner Shannon Polen, who is accused of scamming more than $16 million from local residents in a Ponzi scheme.
Polen is charged with bank fraud, wire fraud, mail fraud and money laundering, according to a report in The Tennessean. Bank fraud, the most serious offense, carries a 30-year max prison sentence if convicted.
Polen was first arrested last March and resigned from the Robertson County Commission shortly after.
He is accused of running three separate scams during which he convinced 74 investors he could turn their cash into a considerable profit.
He instead used the money to fund trips to casinos, pay gambling debts and repay investors, according to the federal filing.
Polen was already facing six felony state charges stemming from allegations that he bilked investors out of more than $10 million and multiple civil lawsuits filed by individual investors.
He is scheduled to stand trial in Davidson County in April.
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