Amit Patel (WJXT)
A former financial employee of the Jacksonville Jaguars, Amit Patel, faces potential imprisonment for a maximum of 30 years and a $500,000 fine after pleading guilty to stealing over $22 million from the NFL franchise over four years.
Legal Proceedings and Sentencing
Dressed in a dark suit, burgundy tie, and brown shoes, Patel admitted to felony charges of wire fraud and illegal monetary transactions in the United States District Court. The 31-year-old will be sentenced by a District Court judge at a later date.
Details of the $22 Million Theft
Patel, who held various titles, including manager of financial planning and analysis, during his tenure with the Jaguars, used his position as the sole overseer of the franchise’s virtual credit card program to fund personal purchases and conceal his theft, as per the United States Attorney’s office.
According to court filing, Patel stole $22,221,454.40 and used the funds for various purchases, including a condominium, a Tesla Model 3 sedan, cryptocurrency, private jets, luxury hotels, a country club membership, and high-end wristwatches.
Patel’s Personal Struggles Revealed
During the hearing, Patel revealed a “gambling disorder” and disclosed undergoing weekly therapy for treatment. He also said he received treatment for alcohol and substance abuse from March to June this year.
The court filing contends that Patel became the sole administrator of the VCC program in October 2019, employing tactics such as duplicating legitimate expenses, inflating transaction amounts, entering fictitious transactions, and redirecting the money for personal use.
Post-Termination Measures by the Jaguars
Patel, granted release on a $10,000 signature bond, must surrender his passport, undergo a mental health evaluation, abstain from alcohol or drugs unless prescribed, submit to drug testing, and refrain from contacting Jaguars employees unless accompanied by his attorney.
The Jaguars terminated Patel in February and collaborated with the U.S. Attorney’s office and the FBI in the investigation. The team clarified that Patel had no access to confidential football information and conducted an independent review, concluding no other team employees were involved.
Connection to Gambling Addiction
Patel’s attorney, Alex King, asserted that Patel’s “serious gambling addiction” was responsible for “approximately 99% of the misappropriated funds”, most of which occurred on FanDuel and DraftKings. King stated Patel is receiving treatment for his gambling addiction and founded Round Robin Recovery LLC to assist others facing similar challenges.
Online records and sources familiar with Patel’s account on Rotogrinders, a daily fantasy sports site, indicated substantial losses, with Patel recognized as a high-volume, high-stakes fantasy sports player. Patel, using the username ParlayPicker, reportedly invested nearly $500,000 in fantasy tournaments across various sports since 2017, with his significant losses concentrated in high-stakes contests against elite competition.
The NFL’s gambling policy prohibits club and league employees from gambling on any sport and participating in daily fantasy sports.
