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.<\/b><\/p>\nJaguars Executive Handed 6.5 Year Prison Sentence<\/h2>\n
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.<\/p>\n
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.<\/p>\n
On December 14th 2023, Patel pleaded guilty to wire fraud and after a continued trial, he was then handed this recent prison sentence.<\/p>\n
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.<\/p>\n
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.<\/p>\n
Roasado Espinal said: \u201cIRS-CI will continue to work with our law enforcement partners to provide the financial expertise to unravel sophisticated fraud and money laundering schemes,\u201d said Rosado-Espinal in conclusion.<\/p>\n
Another key member was, Acting Special Agent in Charge of the FBI Jacksonville Division, Mark Dargis, who revealed how Patel spent his stolen funds.<\/p>\n
His main outgoings were put towards a ‘lavish lifestyle and gambling’, as Patel was said to have a major issue with gambling.<\/p>\n
Dargis said: \u201cAmit Patel knowingly and wittingly created a deceptive scheme to fund a lavish lifestyle at his employer\u2019s expense, and today\u2019s 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.\u201d<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
This list of purchases continues, as the 31-year-old was also a huge fan of crypto, expensive watches, electronic devices and sports memorabilia.<\/p>\n
Patel will undergo a gambling addiction rehab scheme alongside his prison sentence, while also paying the $22.2m to the Jaguars.<\/p>\n