The Jacksonville Jaguars have accused a former employee of stealing 1.8 percent of the team’s total revenue from 2019 to 2023, according to Katie Strang and Kalyn Kahler of The Athletic.
Amit Patel, who worked for the Jaguars for five years beginning in 2018 was recently named in documents filed in the U.S. District Court in Jacksonville, Florida earlier this week. While the Jaguars were not named in the federal filing, the team confirmed it was indeed the victim of the alleged crimes.
What Did Patel Spend The Stolen Money On?
According to the Jaguars’ media guides, Patel held several different titles during his time in the organization. He began as a coordinator before moving to financial planning and analysis and was eventually promoted to manager, financial planning and analysis before being terminated in February 2023.
Patel allegedly exploited the company’s virtual credit card program and used that money to buy several items for personal use, including two vehicles, a condominium, and a designer watch worth $95,000. He also purchased a vacation home private jet charters, paid lawyer fees, and a country club membership. Patel also reportedly used the funds to purchase cryptocurrency and place bets at offshore gambling sites. In total, the crimes added up to a whopping $22.2 million in stolen funds.
Jaguars Have Been Cooperating With FBI & U.S. Attorney’s Office
“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.”
Patel May Have To Pay Back ‘At Least’ $22 Million
Before being terminated, Patel was in charge of the company’s monthly financial statements and department budgets. He also served as the administrator of the franchise’s virtual credit card (VCC) program. The program allowed authorized employees to request VCC’s for business-related purchases and expenses.
According to the court filing, Patel was charged with one count of wire fraud and one count of illegal monetary transactions. If convicted, he may be forced to forfeit the proceeds of the offense, which could run him “in the amount of at least $22,221,454.40”
The Jaguars brought in $1.8 billion in revenue from 2019, the time when Patel became the administrator of the company’s VCC program, until 2023 when he was let go by the organization. If the court filing is correct, it would mean that Patel got away with stealing a whopping 1.2 percent of the company’s revenue over a four year span
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