Attorney sentenced to 25 years in prison after taking client money for gambling

"An elder law attorney from Florida has been sentenced to 25 years in prison for stealing nearly $2 million from his clients' accounts. Polk County, Florida, Judge Cassandra Denmark also sentenced Jason Penrod, the founder of the now-closed Family Elder Law in Florida to 15 years of probation following his prison sentence, according to USA Today. Penrod pleaded guilty to two counts of grand theft and 19 counts of money laundering on Dec. 12, USA Today also reports."

"According to the Polk County sheriff's office, which arrested Penrod in September 2024, he took money from a client's trust fund and used it to gamble at the Seminole Hard Rock Casino in Tampa, Florida. Penrod's former associate attorney discovered the misuse of client funds and reported Penrod to the Florida Bar, the sheriff's office said. Penrod later reported himself to the Florida Supreme Court for misusing funds from two clients' accounts, the agency also said."

"The Florida Bar permanently revoked Penrod's law license in November 2024, USA Today previously reported. Before Penrod's arrest, he faced a civil lawsuit filed by the adult children of one of the clients he stole money from. According to USA Today, the complaint cited a letter in which Penrod characterized himself as a "raging" gambling addict. See also: All About the Action: Are lawyers more at risk for gambling addiction?"

Jason Penrod, founder of Family Elder Law in Florida, was sentenced to 25 years in prison and 15 years of probation for stealing nearly $2 million from client accounts. He pleaded guilty to two counts of grand theft and 19 counts of money laundering. Authorities identified transfers from a client's trust fund used for gambling at the Seminole Hard Rock Casino in Tampa. A former associate reported the misuse to the Florida Bar, and Penrod later reported himself to the Florida Supreme Court. The Florida Bar permanently revoked his law license, and civil claims cited a letter in which he called himself a "raging" gambling addict.

Read at ABA Journal