Former Jaguars Employee Pleads Guilty to Embezzling Over $22 Million, Faces Up to 30 Years in Prison
Former Jaguars employee pleads guilty to $22M theft, facing up to 30 years in prison for financial crimes committed against the NFL team
A former Jacksonville Jaguars employee has pleaded guilty to financial crimes, including stealing over $22 million from the NFL team. Amit Patel could face up to 30 years in prison after admitting to felony charges of wire fraud and illegal monetary transactions in US District Court in Jacksonville on Thursday.
The plea agreement states that the maximum penalty for wire fraud is a 20-year prison term, and the maximum penalty for illegal monetary transaction is a 10-year prison term. This could add up to a potential 30-year prison sentence for Patel, along with a fine of up to $500,000.
Patel was granted a $10,000 bond pending his sentencing, according to court documents. As reported by CNN, Patel allegedly committed wire fraud and illegal financial transactions, where he reportedly siphoned off millions of dollars through the team's virtual credit card (VCC) system over a span of four years, as per court filings from last week.
During his time at the Jaguars, Patel was the only administrator for the VCC system, which operates like a standard credit card account, but does not involve a physical card. Allegedly, between September 2019 and February 2023, when he was terminated, Patel devised and executed a complex plan to embezzle funds without being caught.
According to the court filing, Patel allegedly used the funds for online gambling, private travel and accommodations, sporting tickets, purchasing luxury vehicles, buying cryptocurrency, and acquiring property in Ponte Vedra Beach, Florida. He is also accused of purchasing a Patek Philippe Nautilus watch for over $95,000 using the proceeds of his fraudulent scheme.
Patel's attorney Alex King denies the allegations, stating that Patel's lifestyle was funded through legitimate means. King also expressed Patel's deep remorse and apologized for his behavior, attributing it to a serious gambling addiction for which Patel is currently seeking professional help.
CNN has requested a comment from Patels attorney regarding his guilty plea.
The Jacksonville Jaguars, when asked for a comment by CNN, referred to their two previous statements on the issue, with the most recent being sent on Monday.
The individual exploited his trusted position to secretly and deliberately engage in significant fraudulent financial activity for personal gain, as noted previously and described in the charges against him, according to the team. An independent review conducted by seasoned law and accounting firms determined that no other team employees were involved in or aware of his criminal activity.
"With the help of outside specialists, the company thoroughly examined its policies and procedures, expanded its finance department personnel, and implemented additional measures to guarantee the reliability of its financial controls."
This report was made possible with the contribution of David Close.
