A staggering $500,114.81 in client funds was stolen by Jason Brooks Head, a 46-year-old former wealth manager from Tuscaloosa, Alabama. The brazen theft occurred between July 2020 and November 2023.
According to the information and plea agreement filed in U.S. District Court, Head was a registered stockbroker working for Morgan Stanley Wealth Management during the relevant period. He withdrew the funds from the accounts of two of his clients without their authorization, transferring them to accounts he controlled and using them for his personal benefit.
The U.S. Attorney’s Office for the Northern District of Alabama, led by U.S. Attorney Prim F. Escalona, announced the charges against Head in a press release. The FBI investigated the case, with Assistant U.S. Attorneys Brett A. Janich and Ryan S. Rummage prosecuting the case.
A one-count information filed in U.S. District Court charges Jason Brooks Head with bank embezzlement. A plea agreement was filed with the information, indicating that Head has agreed to plead guilty to the charge.
The case against Head highlights the importance of vigilance in protecting client funds. Wealth managers and financial advisors have a fiduciary duty to act in the best interests of their clients, and any breach of this duty can have severe consequences.
The Court will set a date for Head to enter his guilty plea. An information contains only charges; a defendant is presumed innocent unless and until proven guilty.
In a statement, the U.S. Attorney’s Office emphasized the seriousness of the allegations against Head and the need for accountability in the financial industry. The case is a reminder that embezzlement and financial crimes can have devastating consequences for victims and their families.
Mandatory Facts:
Defendant/Respondent: Jason Brooks Head
Criminal Charges: Bank Embezzlement
City and State: Tuscaloosa, Alabama
Date: Ongoing (July 2020 – November 2023)
Sentence or Outcome: Currently pending, but Head has agreed to plead guilty
Dollar Amounts: $500,114.81
Key Facts
- State: Alabama
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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