Amit Patel used this money to place online bets, buy cryptocurrencies and buy luxury watches.

A former manager of the Jacksonville Jaguars, an American football team, stole $22 million from the team’s treasury to finance his luxury lifestyle, buying expensive watches and a Tesla and paying for his charter flights.

Amit Patel served as the team’s financial planning and analysis manager from 2018 to 2023. The defendant is named in court documents filed in U.S. District Court in Jacksonville, Florida. The team was not named in the filing and was referred to as “Company A,” but the team confirmed it was the victim of Patel’s alleged crimes, The Athletic reported.

Patel managed the team’s financial reports and the department’s budget and had access to the club’s virtual credit card (VCC), which is used by certain authorized employees for business purchases and expenses.

How he stole $22 million

Authorized access to the VCC helped Patel and began making fraudulent purchases in 2019. He hid the transactions by manually marking them as “recurring VCC transactions” such as catering, airfares, hotel fees, etc., then inflated the amount to falsify financial reports and entered an amount that may appear credible, but also entered fictitious transactions that never took place, the Athletic reported, citing documents filed with the court.

He then used this money to place online bets, purchase cryptocurrencies, purchase luxury watches and spa treatments, buy concert tickets, finance his travels with charter flights, and purchase a Tesla Model 3 sedan and a Nissan pickup truck. Buy truck. The defendant used the stolen money to purchase a condominium in Ponte Vedra Beach, Florida, court documents say.

“Over the past few months, we have cooperated fully with the FBI and the U.S. Attorney’s Office for the Middle District of Florida in their investigation and thank them for their efforts in this case,” the New York Post reported, citing the team.

“This individual did not have access to confidential football strategies, personnel or other football information. The team retained experienced law and accounting firms to conduct a comprehensive independent review, which concluded that no other team employees were involved in or aware of its criminal activities,” the statement read.

He was charged with one count of wire fraud and one count of illegal monetary transactions.

Source : www.ndtv.com

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