Jason Christopher Jernigan, a 43-year-old Florida businessman, has admitted to orchestrating a years-long fraud that bled $1.48 million from the bank accounts of professional athletes, including NFL players. The Miramar resident pleaded guilty today in federal court in Greensboro, North Carolina, to one count of conspiracy to commit wire fraud and money laundering, capping a scheme that exploited the trust of elite sports figures.
Jernigan ran Capital Management Wealth Advisors, Inc. (CMG) and APS Management, LLC (APS) out of High Point, North Carolina, alongside business partner Michael Rowan. Posing as licensed financial advisors, the duo targeted professional athletes, offering investment services designed to grow their earnings. Instead, Jernigan used his access to client accounts to siphon funds for personal use, funneling the money between 2008 and 2014 through a web of deceptive transactions.
Court documents reveal that Jernigan didn’t act alone. His partner, Michael Rowan, was sentenced in April 2017 to 65 months in prison after pleading guilty to wire fraud and filing a false 2011 tax return. The fallout from their dual operation exposed how easily athletes—often young, wealthy, and unfamiliar with long-term finance—can become prey for predators in tailored suits and polished offices.
The theft didn’t rely on high-tech hacks or offshore shells. Jernigan simply exploited access, repeatedly transferring money from client accounts under false pretenses. The $1.48 million didn’t vanish overnight—it was drained incrementally, disguised as routine transactions, while victims believed their portfolios were being managed professionally. The betrayal cut deep, not just financially but personally.
Jernigan now faces a maximum of 5 years in federal prison. Sentencing is set for June 1, 2018, at 2 p.m. in Greensboro. In addition to potential jail time, he could be hit with steep monetary penalties, years of supervised release, and full restitution to the athletes he defrauded. The case was investigated by IRS-Criminal Investigation and the U.S. Postal Inspection Service.
Prosecuted by Assistant U.S. Attorney Frank Chut and Tax Division Trial Attorney Mara Strier, the case underscores the federal crackdown on financial predators hiding behind legitimate-sounding firms. U.S. Attorney Matthew G.T. Martin of the Middle District of North Carolina emphasized that exploiting clients’ trust for personal gain will be met with full force of the law—especially when the victims are being played from the inside.
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Key Facts
- State: North Carolina
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
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