Financial Advisor Sentenced To 28 Months In Prison For Misappropriating Funds From NFL Players

GREENSBORO, N.C. - A Florida financial advisor who provided financial services to professional athletes was sentenced to prison today for conspiring to commit wire fraud and money laundering, announced Matthew G.T. Martin, U.S. Attorney for the Middle District of North Carolina.

Jason Christopher JERNIGAN, age 44, a resident of Miramar, Florida, was sentenced to 28 months in prison by U.S. District Court Judge N. Carlton Tilley, Jr. of the Middle District of North Carolina.

According to court documents, JERNIGAN, along with his business partner Michael Rowan, operated Capital Management Wealth Advisors, Inc. (“CMG”) and APS Management, LLC (“APS”) in High Point, North Carolina. Through CMG and APS, JERNIGAN and Rowan provided financial and investment services to professional athletes, including players in the National Football League. From 2008 through 2014, JERNIGAN used his access to his clients’ bank accounts to convert and misappropriate approximately $1.48 million.

On March 7, 2018, JERNIGAN pleaded guilty to one count of conspiracy to commit wire fraud and money laundering. JERNIGAN’s business partner, Michael Rowan, was sentenced in April 2017 to 65 months in prison for wire fraud and filing a false 2011 tax return.

In addition to the term of imprisonment imposed, JERNIGAN was order to serve three years of supervised release and to pay restitution in the amount of $1,290,980 to the victims/clients.

U.S. Attorney Martin stated, “Fighting fraud is a priority of our office. I commend the excellent work of the special agents of IRS-Criminal Investigation and US Postal Inspection Service who investigated the case, and Assistant United States Attorney Frank Chut and Trial Attorney Mara Strier of the Tax Division, who prosecuted this case.”

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