Polk County lawyer allegedly gambled away $1.7 million in client trust at a casino

A Polk County attorney was arrested after being accused of violating a client's trust at the Seminole Hard Rock Casino.

The Polk County Sheriff's Office said Jason Penrod was arrested last night in Marion County on a Polk County warrant for grand theft over $100,000. Penrod works for the Family Elder Law Firm.

The lawsuit accuses Penrod of transferring funds from a trust he created for David Anderson, who died on October 11, 2021.

According to the documents, Penrod met with David's son, Charles Anderson, at a Pennsylvania cafe on June 4, 2024, to discuss “winding down” the trust's administration. Penrod then gave Charles a letter admitting to withdrawing funds from the trust starting in October 2023.

According to the lawsuit, Penrod transferred approximately $1.7 million to the Seminole Hard Rock Casino in Tampa over the next three months until the trust fund was completely depleted. At a meeting with Charles, he verbally confirmed the confession in the letter.

On August 8, 2024, Penrod filed a petition for disciplinary revocation with permission to seek reinstatement to the Florida Bar. The complaint stated that Penrod himself stated in his petition that he had embezzled funds from two trusts and agreed to reimburse the Client Security Fund.

Polk County Sheriff Grady Judd will provide an update on Penrod's arrest with more information at 2:30 p.m. Thursday.