By Ciara Perez, News Reporter | iSkyCreations - News & Media (ISC)
Published September 6th, 2024
Lake Wales, FL - According to the Polk County Sheriff's Office, Jason Penrod, 47, owner and attorney at Family Elder Law Firm in Lake Wales, was arrested by the Marion County Sheriff’s Office on a felony Grand Theft charge for allegedly stealing over $1.7 million from the living trust account of a deceased Polk County resident. The arrest came at approximately 8:30 PM, following a warrant issued by the Polk County Sheriff’s Office.
Penrod, a resident of Wyndham Drive in Winter Haven, was apprehended outside of Ocala, with the Marion County Sheriff’s Office assisting in serving the warrant. Detectives from the Polk County Sheriff's Office (PCSO) initiated the investigation after uncovering substantial evidence that Penrod had diverted funds from a client's trust account for personal use.
Penrod's book-in:
Video courtesy of Polk County Sheriff's Office
Upon arrest, Penrod expressed confusion, claiming he had already retained an attorney and believed the issue was being addressed by the State Attorney's Office. He refused further comment to detectives.
Investigators revealed that Penrod had traveled to Pennsylvania earlier this year to confess his theft to the adult children of one of his deceased clients. In a letter addressed to them, Penrod admitted to grappling with severe mental and personal stress, which led to a gambling addiction. He confessed that after depleting his family’s savings and his firm’s profits, he began transferring funds from his client’s trust account into his own personal account in October 2023 to fuel his gambling habit at the Seminole Hard Rock Casino in Tampa.
“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.” – Grady Judd, Sheriff
PCSO detectives discovered that Penrod’s former associate attorney reported him to the Florida Bar Association after discovering the misappropriation of client funds. Penrod subsequently reported himself to the Florida State Supreme Court, admitting to the misuse of funds from two clients’ trusts.
Further investigation into Penrod’s financials revealed that he had frequented the Seminole Hard Rock Casino multiple times throughout the year, losing over $1.7 million in the process. Bank records show Penrod wired $1,207,120 directly to the casino and withdrew an additional $24,511.45 from ATMs at the casino. Detectives are continuing to examine his financial records and believe more victims may be involved.
The investigation remains ongoing, with the Polk County Sheriff's Office actively pursuing leads on additional thefts from other clients.
This material may not be published, broadcast, rewritten, or redistributed without permission from us. If you would like to purchase our photos or videos, please contact us at: support@iskycreations.com or visit our website here. Ready to make a difference in your community? Join our News Team.
Get updates delivered to you daily. Free and customizable.
It’s essential to note our commitment to transparency:
Our Terms of Use acknowledge that our services may not always be error-free, and our Community Standards emphasize our discretion in enforcing policies. As a platform hosting over 100,000 pieces of content published daily, we cannot pre-vet content, but we strive to foster a dynamic environment for free expression and robust discourse through safety guardrails of human and AI moderation.
Local Polk County, FL
Most Popular
Comments / 0