Pennsylvania siblings' trust fund was defrauded of over $1.5M by a Florida lawyer.

An attorney from Polk County, Florida, was apprehended for embezzling approximately $2 million from a trust established for two siblings in Pennsylvania by their late father.

During a press conference on Thursday afternoon, Polk County Sheriff Grady Judd announced the arrest of 47-year-old Jason Penrod of Family Elder Law, who has been charged with first-degree felony grand theft of over $100,000.

Penrod's office received complaints on July 25 and July 29, which are still being investigated and awaiting the return of bank records.

On Aug. 2, a complaint was lodged with the Pennsylvania State Police against Penrod, alleging that he defrauded a brother and a sister who inherited a trust from their late father.

Penrod flew to Pennsylvania to confront the trustees and admit taking their money, along with an additional $1.7 million, and wiping out the trust. However, he promised to repay the amount.

The sheriff stated that Penrod admitted to having a gambling addiction and losing the money at the Seminole Hard Rock Casino in Tampa.

Judd stated that after Penrod admitted to losing money due to his gambling addiction, he promised to repay the amount with interest as if it were a "short-term loan."

Judd stated that the suspect gave a series of reasons for their actions, including repressed memories, PTSD, trauma, numbness, and stress.

As the investigation into Judd's gambling addiction continued, it was discovered that there were at least two more victims, increasing the number of victims to four and the total loss to approximately $4 million.

Before refiling, Penrod agreed to give up his law license so he could earn the money to repay it.

Judd stated that this man was delusional, in addition to all of his other excuses.

The sheriff stated that his investigators and the state's attorney will make every effort to ensure that Penrod receives a lengthy prison sentence.

The grand theft of over $100,000, for which he has been charged, carries a maximum prison sentence of 30 years.

Judd claimed that Penrod considered taking legal action against the Hard Rock for allowing him to gamble there as an additional excuse for draining the account.

"Judd stated, "You now claim that this man has no issues, yet he possesses only a few brain cells, with two of them remaining in the Hard Rock. As a result, he is now incarcerated and will serve time in prison. Our objective is to achieve this outcome.""

Penrod is accused of alleged swindles, and Judd gave more information about them.

A 93-year-old woman, whose husband and two sons died, had a son leave her a trust to help with her care. That money is now at the Hard Rock, according to Judd.

"The sheriff stated that Jason confessed to stealing the money and spending it at the Hard Rock. However, he is now attempting to evade responsibility by claiming mental illness. Despite this, the sheriff emphasized that Jason is not mentally ill, but rather a thief who stole the money."

An investigation into Penrod is currently being conducted, and it is unclear how many other cases or victims there might be.

He mentioned that some individuals might not realize they have lost money because they receive payments infrequently, only once or twice a year.

Still, Judd alleges that Penrod stole millions of dollars.

""The most dangerous criminal is the one who uses a coat, tie, and a professional license to steal money," Judd stated. "Therefore, Jason, you won't have a royal flush, but you'll have a jailhouse flush that's guaranteed," he added."