A Florida financial adviser with offices in High Point will serve more than two years in federal prison for bilking clients, including several NFL players, out of $1.4 million.
A federal judge in Greensboro sentenced Jason Jernigan, 44, of Miramar, Fla., to 28 months for money laundering and conspiring to commit wire fraud, said a news release from U.S. Attorney Matthew G.T. Martin of the state’s middle district.
With business partner Michael Rowan, Jernigan operated Capital Management Wealth Advisors and APS Management out of High Point. They offered financial services and investment advice to professional athletes, including NFL players named only as M.J., J.P. and F.W, federal court records said.
Jernigan told clients he needed access to their bank accounts so he could pay their bills, court records said, and he instructed them to move money to specific banks. As part of the conspiracy, he moved more than $1.4 million of his clients’ funds to APS and Capital Wealth accounts.
“Fighting fraud is a priority of our office,” Martin said in the release.
Jernigan pleaded guilty to one count of conspiracy to commit wire fraud and money laundering in 2017. He must pay $1,290,980 in restitution to his client victims.
Rowan was sentenced to 65 months in prison last year for wire fraud and filing a false tax return, Martin’s release said.