Law Firm Owner Gambled Away Client’s $1.8m Trust Fund
The owner of a Florida law firm allegedly gambled away $1.8m that he took from a client’s trust fund. [Image: Shutterstock.com]
The owner of a Florida law firm allegedly used almost $1.8m of client funds to gamble at a casino. A civil lawsuit alleges that Jason Penrod of Family Elder Law diverted the money from the trust fund of a client to his own bank account. The client passed away in 2021.
The plaintiffs in the lawsuit are the children of the deceased Pennsylvania man, who claim that Penrod admitted to gambling away the funds at Tampa’s Seminole Hard Rock Casino when he met with them in June.
handed over letters confessing his crimes that started in October 2023
He handed over letters confessing his crimes that started in October 2023 and lasted for about three months through frequent withdrawals until all the money was gone. He blamed “post-traumatic stress endured from childhood experiences” as leading to him developing mental health issues and a gambling addiction.
The two surviving children accuse him of civil theft, breach of trust, and conversion. They want to remove him as their trust fund trustee and are seeking damages. Penrod also is facing disciplinary charges from the Florida Bar.
The law firm had locations in Sebring, Lakeland, and Lake Wales before suddenly shutting each of them down in July with no warning.
