Indian-origin man sentenced to 6 years in US for defrauding Florida football club of $22 million

A 31-year-old Indian-origin man and former finance manager of the Jacksonville Jaguars football team has been sentenced to six and a half years in federal prison for his involvement in wire fraud and illegal monetary transactions.

Amit Patel, 31, of Jacksonville, Florida, was sentenced Tuesday by U.S. District Judge Henry L. Adams of the U.S. Attorney’s Office for the Middle District of Florida for embezzling more than $22 million from the Jacksonville Jaguars.

As part of his sentence, Patel has been ordered to forfeit the amounts, which total more than $22 million, and to make full restitution to the Jacksonville Jaguars.

Patel pleaded guilty on December 14, 2023.

Patel began his fraudulent activities in September 2019, which continued until his termination from Jaguar in February 2023.

Patel’s fraudulent scheme and illegal earnings

According to court documents, Patel operated a fraud scheme through which he embezzled more than $22 million from the Jacksonville Jaguars.

Patel abused his job managing the team’s Virtual Credit Card (VCC) program.

He made a lot of purchases and transactions which did not help the team. To hide what he was doing, Patel created fake accounting files and sent them to Jaguar’s accounting department.

He altered the files by copying actual transactions, overstating the amounts, adding fake transactions and moving charges between different months.

Despite these tips, the total amount matches the balance paid by Jaguar for the VCC Program Line of Credit.

He used the money received through this scheme for various purposes.

These include gambling on online platforms, purchasing a condominium (individually owned residential unit in a complex) in Ponte Vedra Beach, Florida, financing personal trips for yourself and companions (including chartering private jets and reserving luxury accommodations Was) involved.

Additionally, according to court documents, purchasing a new Tesla Model 3 sedan and a Nissan pickup truck, maintaining a criminal defense law firm and investing in cryptocurrencies and non-fungible tokens.

Additionally, he spent money on electronics, sports memorabilia, a country club membership, spa treatments, tickets to concerts and sporting events, home furnishings, and luxury wrist watches.

Notably, Patel failed to disclose any of these illegal earnings in his tax filings.

“This case exemplifies the FBI’s tireless efforts to protect American companies and their customers,” said Mark Dargis, Acting Special Agent in Charge of the FBI Jacksonville Division. He condemned Patel’s actions as deceptive and aimed at financing a lavish lifestyle at the expense of his employer. ,

published by:

Girish Kumar Anshul

Published on:

March 13, 2024