Amit Patel, the former Jaguars Financial Executive, has been handed a six-and-a-half-years prison sentence, after embezzling over $20 million – which was spent on gambling and luxurious life.
Jaguars Executive Handed 6.5 Year Prison Sentence
The 31-year-old was charged after embezzling $22.2m during his spell at the Jacksonville Jaguars from 2018-2023 and will now face 6.5 years in prison.
During the investigation, it was revealed that the draining of funds started in September 2019 and came to an end in February 2023 – around the time Patel was removed from the Jaguars.
On December 14th 2023, Patel pleaded guilty to wire fraud and after a continued trial, he was then handed this recent prison sentence.
The former financial executive will be held in federal prison, ruled by US District Judge Henry L. Adams and Patel must also pay the full amount back to the Jaguars – a fee that came to $22,221,454.40.
The IRS reportedly played a major part in revealing Patel’s illegal behavior, as IRS-CI Acting Special Agent in Charge, Lani Rosado-Espinal, praised the work done by her employers.
Roasado Espinal said: “IRS-CI will continue to work with our law enforcement partners to provide the financial expertise to unravel sophisticated fraud and money laundering schemes,” said Rosado-Espinal in conclusion.
Another key member was, Acting Special Agent in Charge of the FBI Jacksonville Division, Mark Dargis, who revealed how Patel spent his stolen funds.
His main outgoings were put towards a ‘lavish lifestyle and gambling’, as Patel was said to have a major issue with gambling.
Dargis said: “Amit Patel knowingly and wittingly created a deceptive scheme to fund a lavish lifestyle at his employer’s expense, and today’s sentencing is a warning to other scam artists: the FBI and our partners will continue to aggressively pursue corporate fraud investigations to protect consumers from bearing the costs associated with criminal activity.”
The final total came to $22.2m and according to Patel’s defense attorney, 99% of the embezzled money was spent on recovering from huge gambling debts – labeling him as a gambling addict.
Patel was reportedly a big gambler, however, the court rules that this was not the primary expenditure and claimed the money was put towards a certain lifestyle.
The former Jaguars employee purchased a house in Ponte Vedra Beach, Florida, a new Tesla Model 3 sedan, a Nissan pickup truck, and expensed all travel via private jet flights – alongside high-quality accommodation.
This list of purchases continues, as the 31-year-old was also a huge fan of crypto, expensive watches, electronic devices and sports memorabilia.
Patel will undergo a gambling addiction rehab scheme alongside his prison sentence, while also paying the $22.2m to the Jaguars.
Check out Instant Withdrawal Casinos for the best online gaming experience.
