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Press Release

Former Tuscaloosa Wealth Manager Charged in Connection with Theft of Client Funds

For Immediate Release
U.S. Attorney's Office, Northern District of Alabama

BIRMINGHAM, Ala. – A former Tuscaloosa wealth manager has been charged in connection with his theft of more than $500,000 in client funds, announced U.S. Attorney Prim F. Escalona and FBI Special Agent in Charge Carlton L. Peeples.

A one-count information filed in U.S. District Court charges Jason Brooks Head, 46, of Tuscaloosa, with bank embezzlement. A plea agreement was filed with the information, indicating that Head has agreed to plead guilty to the charge.

According to the information and plea agreement, Head was a registered stockbroker who worked for Morgan Stanley Wealth Management throughout the relevant period.  Beginning in July 2020 and continuing through November 2023, Head withdrew approximately $500,114.81 from the accounts of two of his Morgan Stanley clients without their authorization. Head transferred the funds to accounts he controlled and used for his personal benefit.

The Court will set a date for Head to enter his guilty plea.

The FBI investigated the case. Assistant U.S. Attorneys Brett A. Janich and Ryan S. Rummage are prosecuting the case.

An information contains only charges.  A defendant is presumed innocent unless and until proven guilty.

Updated September 26, 2024