A former employee of the Jacksonville Jaguars is set to receive a sentence for their involvement in a scandal of embezzling $22 million.
The punishment for Amit Patel, a former financial planning and analysis manager for the Jacksonville Jaguars, is imminent as more information emerges in his embezzlement case. Patel, who confessed to committing wire fraud and illegal monetary transactions, could receive a maximum penalty of 30 years. However, negotiations for a plea bargain may greatly decrease this sentence, with the prosecution suggesting a term of eight years in prison.
The Manager of the Jaguars Incurred Some Extravagant Costs.
Attorney for Patel, Alex King, stated that Patel’s actions were driven by a gambling addiction, with 99% of the embezzled funds being used to cover losses from gambling. However, recent findings in a prosecution document have revealed that Patel’s extravagant gambling sprees were funded with a portion of the embezzled money.
The prosecution claims that Patel indulged in lavish expenses and spared no cost when treating himself. Some notable expenses include over $278,000 on hotels, rental properties, and travel, including $78,800 on private jets. Patel also spent more than $77,000 on a fancy spa experience and used $69,000 to purchase premium tickets for events such as Formula 1 and the Pegasus World Cup.
The previous leader of the Jaguars team spent a significant amount of money on material goods, totaling around $600,000 at Apple and $40,000 at Amazon and Best Buy. Patel was a devoted sports enthusiast, evident in his notable purchases of items such as Tiger Woods’ putter from 1996, valued at $47,000. His spending of $140,000 on eBay also suggests that he used his illegally obtained funds for things other than gambling.
The majority of the funds may not be able to be recouped.
Patel, accused of manipulating the Jaguars’ virtual credit card program, is scheduled for sentencing on Tuesday. The charges indicate a sophisticated scheme where Patel reportedly made fraudulent transactions, duplicating other entries or inventing plausible expenditures to conceal his actions within the team’s financial system. His embezzlement spanned three and a half years, motivating the potential strict sentence.
The situation presents two important concerns: the location of the $22 million that was stolen and how to repair the financial harm done to the Jaguars. The team has made a request to FanDuel to give back $20 million and emphasized the need to retrieve the misused money. However, the company reportedly refused to return the significant sum, claiming that it was obtained legitimately.
Before the legal proceedings come to a close, both the Jaguars and legal authorities are seeking more than just justice. The team is also aiming to obtain compensation for the significant financial losses caused by Patel, as these funds are crucial for their future growth and strategy. However, the chances of receiving this reimbursement are extremely slim unless FanDuel modifies its position.
