GREENSBORO, N.C. — A Florida financial advisor who ran businesses out of High Point, N.C. was sentenced to 28 months of jail time for stealing $1.48 million from NFL players and other professional athletes, according to the United States Attorney's Office for the Middle District of North Carolina.
U.S. District Court Judge N. Carlton Tilley, Jr. brought down the sentencing for Jason Jernigan, 44, today.
Last year, Jernigan pleaded guilty to one count of conspiracy to commit wire fraud and money laundering.
Court documents revealed that Jernigan, along with his business partner, Michael Rowan, operated Capital Management Wealth Advisors, Inc. and APS Management, LLC in High Point. Through these firms, the men provided financial and investment services to professional athletes, including NFL players.
The U.S. Attorney's Office said Jernigan used his access to his clients' bank accounts to convert and misappropriate approximately $1.48 million.
In addition to his 28 month prison sentence, Jernigan was ordered to serve three years of supervised release and to pay restitution in the amount of nearly $1.3 million to the clients he victimized.
Jernigan's business partner, Michael Rowan, was sentenced in April 2017 to 5-and-a-half years for wire fraud and filing a false 2011 tax return.