Polk County attorney arrested for stealing more than $1.7M from client's trust, Sheriff Grady Judd says

Polk attorney for stealing money from client

Carla Bayron reports

POLK COUNTY, Fla. - A Polk County attorney was arrested for stealing more than $1.7 million from his client's trust and then gambling it all away.

According to the Polk County Sheriff's Office, Attorney Jason Penrod was arrested on the first degree felony charge of grand theft over $100,000. It can carry a prison sentence of up to 30 years.

Penrod was arrested in Marion County on Wednesday night on a Polk County warrant.

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"In fact, Jason Penrod flew to Pennsylvania to look the trustees in the eye and said ‘I took your money,’" said Polk County Sheriff Grady Judd.

Photo courtesy: Polk County Sheriff's Office

A civil lawsuit was filed recently by the children of the victim, David Anderson, who lived in the county but is now deceased. They are the bene beneficiaries of the trust.

They allege Penrod wrote them a letter in which he admitted to being a raging addict and gambled all of their money away at the Seminole Hard Rock Casino in Tampa.

"Then he said ‘I just gambled and gambled,’" said Judd. "He said 'this compulsion overcame me. I self-justified it that I'm going to pay it back with interest. I'm just borrowing it on a short term loan.'"

Brice Zoecklein, the managing attorney of Zoecklin Law in Brandon, represents Anderson's children.

Polk County attorney arrested for theft of over $100k, Sheriff Grady Judd says

Polk County Sheriff Grady Judd talks about the arrest of an attorney accused of stealing millions of dollars from clients.

"If anything, this case should serve as a warning to anyone serving in fiduciary capacity," said Zoecklin. "If you are in a position managing a trust or state assets for other people, don't take the money and don't take advantage of your situation. If you do, there will be civil consequences and likely criminal prosecution."

FOX 13 previously reported on Family Elder Law, which Penrod founded, unexpectedly closing in July, leaving clients and employees in limbo.

The Florida Bar website had claimed Penrod had disciplinary charges pending. Penrod had admitted to the highest court in the state that he misappropriated funds from his clients. He petitioned to have his disciplinary charges dropped, and his law license revoked, though with a chance to be reinstated later.

The sheriff believes Penrod may have stolen money from other clients, and he's facing at least four potential criminal investigations in the county.