Arrest of Family Elder Law Penrod Another Shock to Community

Winter Haven attorney Jason Penrod, owner of Family Elder Law, was arrested this week on a charge of Grand Theft after confessing to a client that he had stolen from a trust fund. His firm was closed abruptly in July, leaving employees and clientele without explanations for weeks.

News file photo

Jason Penrod, a well-known and popular local attorney, now faces charges of Grand Theft in addition to the loss of his business. Penrod was arrested in Ocala on a Polk County warrant Wednesday evening.

Penrod subsequently filed a petition with the Florida Supreme Court acknowledging the misuse of client living trust funds and requesting the disciplinary revocation of his law license. That matter is still pending and is separate from the criminal charges filed in Polk County.

A civil suit filed by the heirs of a deceased client included a letter Penrod had written confessing to his theft of approximately $1.7 million and promising to repay them. He told the victims that he had lost the money at the Seminole Hard Rock Casino in Tampa as he battled depression.

Penrod was reportedly arrested on a Polk County warrant by Marion County deputies at a facility near Ocala where he was seeking treatment for clinical depression. Penrod's friends have told Lake Wales News that he has battled bouts of depression for much of his adult life.

The Polk County Sheriff's office reported that Penrod flew to Pennsylvania in person to hand-deliver his letter of confession to the adult children of his late client, saying that he had been dealing with mental and personal stress and had "exhausted our family's savings, my law firm's profits..."

Robert Connors

Family Elder Law was a growing law firm with three offices in Lake Wales, Sebring, and Lakeland. Employees were surprised by the sudden closure of the firm.

The letter begged them for forgiveness and time to repay the missing funds by continuing to work. They chose instead to report the theft, causing Penrod to close his business, which operated locations in Sebring and Lakeland, in addition to his main office in Lake Wales.

The Lake Wales offices were subsequently placed on the market and were quickly brought under contract by the City of Lake Wales to be used as a police department annex.

According to PCSO detectives, "Penrod questioned why he was being arrested and was distraught at the time of his arrest. Penrod stated he had an attorney who contacted the State Attorney's Office about this incident and believed the issue was being handled. He declined to speak with detectives further."

The Sheriff's office reported that "Penrod's former associate attorney had discovered the misuse of client funds and reported him to the Florida Bar Association."

According to the Polk Sheriff's office, "Detectives have confirmed that Penrod has been to the Seminole Hard Rock Casino in Tampa multiple times this year and has lost over $1.7 million gambling. Detectives also obtained copies of the suspect's bank records, which showed that he stole $1,705,000 from the victim's trust account and put it into his own personal bank accounts."

"So far, his bank records show that Penrod has wired directly to the Hard Rock Casino was $1,207,120, (sic) and he has also withdrawn $24,511.45 from ATMs at the Hard Rock" the statement said. "Detectives are still investigating his financials."