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BlueWaveNeverEnd

(7,939 posts)
Wed Mar 13, 2024, 04:08 AM Mar 13

Amit Patel sentenced to 6.5 years in prison for stealing $22M from Jags, living 'life of luxury'

"We gave him his dream job," Jaguars senior vice president and chief legal officer Megha Parekh said when reading a statement from the team. "We trusted him. We worked with him. We broke bread with him. We went through a pandemic and the highs and lows of the NFL with him. He betrayed us.

DiRocco noted Patel oversaw the Jaguars' virtual credit card program and stole more than $22 million from the team over the course of 3.5 years. Court documents revealed he transferred approximately $20 million to FanDuel and $1 million to DraftKings while also using some of the money on things such as Apple products and private jet travel.

ESPN's David Purdum reported in December that Patel "was a high-volume, high-stakes daily fantasy sports player known for racking up big losses."

One daily fantasy player told Purdum that Patel, who played under the username "ParlayPicker," was "the biggest loser ever on FanDuel," with another person saying "he was legendarily bad."

https://bleacherreport.com/articles/10112741-ex-jaguars-employee-amit-patel-gets-65-years-in-jail-for-stealing-22m-from-nfl-team




https://www.news4jax.com/news/local/2024/03/12/how-much-time-will-amit-patel-spend-in-prison-for-living-life-of-luxury-with-stolen-jags-money/

JACKSONVILLE, Fla. – Former Jaguars employee Amit Patel was sentenced Tuesday to 6.5 years in federal prison after he admitted to stealing more than $22 million from the team over three years.

Federal prosecutors say Patel, 31, used the stolen millions to live a “life of luxury” that included lavish trips on private jets, a country club membership, a luxury watch, and Jaguars and sports memorabilia worth tens of thousands of dollars. They asked the court to sentence Patel to seven years in prison.

But Patel’s attorneys argued that the vast majority of the money stolen from the Jaguars fueled Patel’s online gambling addiction and asked for a lighter sentence.

The judge sentenced Patel to 78 months in prison plus three years of supervised release following his prison time.

Here are some of the places Patel made the largest purchases, in approximate amounts, according to prosecutors:

Restaurants/Bars: $25,000
Financial/Cryptocurrency: $2,100,000
Individuals: $1,000,000
The Golf Auction, LLC: $201,000
eBay: $140,000
Ponte Vedra Inn & Club: $78,000
Entertainment: $300,000 (including $69,000 on Ticketmaster and $63,000 on StubHub)
FBO Jets: $78,800
Hotels.com: $40,000
Delta: $30,000
Vrbo: $17,500
Legal Fees: $275,000
Tesla: $50,000
BestBet: $34,000
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Amit Patel sentenced to 6.5 years in prison for stealing $22M from Jags, living 'life of luxury' (Original Post) BlueWaveNeverEnd Mar 13 OP
How does any good business organization lose track of $21M for thre or four years? Where were the auditors and ... marble falls Mar 13 #1
these huge embezzlements are confusing. how no one notices FOR YEARS that HUGE amounts of money BlueWaveNeverEnd Mar 13 #2
I Have The Same Question! ProfessorGAC Mar 14 #3

marble falls

(57,097 posts)
1. How does any good business organization lose track of $21M for thre or four years? Where were the auditors and ...
Wed Mar 13, 2024, 09:41 AM
Mar 13

... CPAs at tax time?

ProfessorGAC

(65,057 posts)
3. I Have The Same Question!
Thu Mar 14, 2024, 08:28 PM
Mar 14

$7 million a year and nobody notices.
I know the league is huge, but most of the the teams have $650-700 million in total revenue.
This guy was pilfering 1% of revenues & nobody noticed?
That said, this was a team that made a business decision to hire Urban Meyer. Maybe we shouldn't be so shocked.

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