Attorney arrested, accused of losing $1.7 million of client’s trust at casino
A Polk County attorney was arrested after he was accused of depleting a client's trust at the Seminole Hard Rock Casino.
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POLK COUNTY, Florida (WFTS) — A Polk County attorney was arrested after he was accused of depleting a client’s trust at the Seminole Hard Rock Casino.
The Polk County Sheriff’s Office said Jason Penrod was arrested last night on a first-degree felony charge of grand theft over $100,000 in Marion County on a Polk County warrant. Penrod works for the Family Elder Law Firm.
Lawsuit documents accused Penrod of transferring funds out of a trust he drafted for David Anderson, who passed away on Oct. 11, 2021.
The documents state that on June 4, 2024, Penrod met with David’s son, Charles Anderson, at a coffee shop in Pennsylvania to discuss the “winding down” of the administration of the trust. Penrod then gave Charles a letter that confessed to removing funds from the trust starting in October 2023.
According to the lawsuit, over the next three months, Penrod wired around $1.7 million to the Seminole Hard Rock Casino in Tampa until the trust was completely depleted. He verbally confirmed the letter’s confession while meeting with Charles.
“It is heartbreaking and insulting that a lawyer, who this victim placed his trust in, would cheat not only his victim, but the victim’s family, including children and grandchildren. We rely on lawyers to uphold the law and demonstrate integrity. Penrod did neither. His excuses are just that – he promised when he was given his license to practice law that he would protect his clients – and he has done the exact opposite,” Polk County Sheriff Grady Judd said.
On Aug. 8, 2024, Penrod submitted a petition for disciplinary revocation with leave to apply for readmission to the Florida Bar. The lawsuit stated that in his petition, Penrod self-reported that he misappropriated funds from two trusts and that he agrees to reimburse the Client Security Fund.
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