An attorney from Polk County, Florida, has been arrested for embezzling almost $2 million from a trust that a deceased father established for his brother and sister in Pennsylvania.
Sheriff Grady Judd announced at a press conference on Thursday that Jason Penrod, a 47-year-old from Family Elder Law, has been taken into custody and is facing charges of first-degree felony grand theft, involving a sum exceeding $100,000.
Judd mentioned that his office has received complaints on July 25 and July 29 regarding Penrod. These complaints are currently being investigated and are awaiting the return of bank records.
However, on August 2nd, a complaint was lodged with the Pennsylvania State Police, alleging that Penrod had taken advantage of a brother and sister who had a trust from their late father.
The sheriff additionally mentioned that Penrod confessed to the siblings about his struggle with a gambling addiction, revealing that he had lost the money at the Seminole Hard Rock Casino in Tampa.
According to Judd, Penrod claimed that he would repay the lost money, which he attributed to his gambling addiction, with interest, likening it to a “short-term loan.”
According to Judd, the suspect offered a range of explanations, including repressed memories, post-traumatic stress disorder (PTSD), trauma, numbness, and stress.
After Penrod’s return, he reportedly sought treatment for his gambling addiction at a facility. As the investigation progressed, Judd’s investigators discovered two additional victims, bringing the total number of victims to four and the overall loss to approximately $4 million.
Judd stated that Penrod had willingly decided to surrender his law license prior to reapplying, in order to generate the necessary funds to repay the debt.
The single offense he is currently facing is grand theft of over $100,000, which can result in a maximum prison term of 30 years.
In addition to the various excuses Penrod supposedly provided for depleting the account, Judd mentioned that the suspect even contemplated taking legal action against the Hard Rock for allowing him to gamble.
Judd shared more information about the alleged fraudulent activities that Penrod is being accused of.
A 93-year-old woman, who tragically lost her husband and two sons, is among the victims. A trust was left by one of the sons to assist in caring for his mother. According to Judd, the money has been transferred to the Hard Rock.
