AP – NBC 6 South Florida
Introduction to the Issue
The Jacksonville Jaguars, a prominent NFL franchise, has been dealing with the aftermath of a significant financial theft. A former employee, Amit Patel, stole nearly $20 million from the team and deposited it into the sportsbook, FanDuel. Recently, FanDuel agreed to pay the Jaguars roughly $5 million to help offset the losses.
Background of the Incident
The deal between FanDuel and the Jaguars was finalized earlier this year, a year after Patel pleaded guilty to stealing $22 million through a virtual credit card system the team used for expenses.
Patel’s actions were discovered in February 2023, when one of his bets was flagged by the NFL. He oversaw the Jaguars’ monthly financial statements and department budgets and served as the club’s administrator of its virtual credit card program.
Details of the Theft
Patel used his control to make fraudulent transactions, duplicating and inflating transactions for items such as catering, airfare, and hotel charges. He also filed fake transactions that seemed legitimate. The thefts occurred between September 2019 and February 2023.
Legal Consequences
Patel is currently serving a 6 ½ year sentence in federal prison in South Carolina. He sued FanDuel last October for $250 million, claiming the betting company preyed on his gambling addiction and ignored its own responsible gambling and anti-money laundering protocols.
Resolution and Agreement
The Jaguars declined comment on the agreement with FanDuel, and FanDuel did not immediately respond to a request for comment. The deal was likely made to avoid a potentially expensive legal battle, given FanDuel’s status as one of the NFL’s official gambling partners.
The Jaguars’ Lawsuit
The Jaguars sued Patel in July 2024, seeking more than $66 million in damages. Patel’s lawsuit against FanDuel claims that the company knew he was an employee of the NFL team and therefore not eligible to gamble legally.
Conclusion
The incident highlights the importance of responsible gambling practices and the need for sportsbooks to adhere to anti-money laundering protocols. The agreement between FanDuel and the Jaguars is a step towards resolving the issue, but it also raises questions about the accountability of sportsbooks in preventing and detecting fraudulent activities.
FAQs
Q: How much did FanDuel agree to pay the Jaguars?
A: FanDuel agreed to pay the Jaguars roughly $5 million to help offset the losses.
Q: How much did Amit Patel steal from the Jaguars?
A: Amit Patel stole nearly $20 million from the Jaguars.
Q: What is Patel’s current status?
A: Patel is serving a 6 ½ year sentence in federal prison in South Carolina.
Q: Did FanDuel respond to the request for comment?
A: FanDuel did not immediately respond to a request for comment.
Q: How much is Patel suing FanDuel for?
A: Patel is suing FanDuel for $250 million.
