Jacksonville Jaguars Exec Allegedly Embezzled $22 Million for Gambling, Crypto
A former Jacksonville Jaguars executive is accused of embezzling $22 million on gambling and other items.
Amit Patel was fired by the Jaguars last February. He was also accused of siphoning team funds for personal travel and a condo purchase.
The Athletic first broke the story on Tuesday. Contributors Katie Strang and Kalyn Kahler refer to Patel as "a guy in the right place at the right time," who took advantage of turnover in the financial department and a unique position with a new system to steal millions.
From the Athletic:
Patel was a mid-level employee who worked for the Jaguars from 2018-23. He allegedly created fraudulent charges on the club’s virtual credit card and then covered his tracks by sending falsified files to the team’s accounting department. According to a charging document, he used that money to buy vehicles, a condominium and a designer watch worth over $95,000. He also purchased cryptocurrency, splurged on luxury travel for himself and others and used the funds to keep a criminal defense lawyer on retainer. Patel’s attorney said that the vast majority of the $22 million he stole were gambling losses; Patel allegedly placed bets on football and daily fantasy sports with online gambling sites.
BREAKING: A former Jaguars employee is accused of stealing over $22 million, spending money on cars, cryptocurrencies, and private jets https://t.co/VkLfvndUpg
— ActionNewsJax (@ActionNewsJax) December 7, 2023
Patel is charged with one count of wire fraud and one count of illegal monetary transaction in documents filed in U.S. District Court in Jacksonville.
Other items Patel is alleged to have used the ill-gotten fees on included a Tesla Model 3 sedan, a Nissan pickup truck, a Patek Philippe Nautilus watch for $95,000, and an unknown amount of cryptocurrency.
The Jaguars are named as "Business A" in the court documents as confirmed by the NFL franchise.
"We can confirm that in February 2023, the team terminated the employment of the individual named in the filing," the team said in a statement. "Over the past several months, we have cooperated fully with the FBI and the U.S. Attorney's Office for the Middle District of Florida during their investigation and thank them for their efforts in this case.
"As was made clear in the charges, this individual was a former manager of financial planning and analysis who took advantage of his trusted position to covertly and intentionally commit significant fraudulent financial activity at the team's expense for personal benefit.
"This individual had no access to confidential football strategy, personnel or other football information. The team engaged experienced law and accounting firms to conduct a comprehensive independent review, which concluded that no other team employees were involved in or aware of his criminal activity."
- Jagajeet Chiba, Gambling911.com
