Indian-American Amit Patel allegedly stole $22 mn from American football team to fund luxurious lifestyle

In a startling revelation, a former executive of the Jacksonville Jaguars, an American football team, is facing allegations of embezzling over $22 million from the team's budget to finance a lavish lifestyle that included the purchase of a Tesla, luxury watches, and chartered flights.

Amit Patel, an individual of Indian-American origin, held the position of Manager of Financial Planning and Analysis for the Jacksonville Jaguars from 2018 to 2023. The accused's name is mentioned in court documents filed in the US District Court in Jacksonville, Florida. While the court documents refer to the team as "Business A," the Athletic confirmed that the victim of Patel's purported embezzlement was indeed the Jacksonville Jaguars.

According to the court filing, Patel, in his role overseeing financial statements and the department's budget, exploited his access to the club's Virtual Credit Card (VCC) program, which authorized employees used for business-related transactions. Patel manipulated the Virtual Credit Card program, executing a scheme involving recurring transactions such as catering, airfare, and hotel charges. The New York Post reported that Patel inflated legitimate transactions, duplicated them, and entered fictitious transactions to misappropriate funds.

In response to the allegations, the Jacksonville Jaguars released a statement asserting, "As was made clear in the charges, this individual was a former manager of financial planning and analysis who took advantage of his trusted position to covertly and intentionally commit significant fraudulent financial activity at the team’s expense for personal benefit. This individual had no access to confidential football strategy, personnel, or other football information." The statement clarified that no other employee was implicated or aware of Patel's fraudulent activities.

Patel is accused of diverting the embezzled funds for various personal indulgences, including online gambling, the acquisition of a condominium in Ponte Vedra Beach, Florida, personal travel on chartered private jets, purchasing luxury vehicles, retaining legal services, investing in cryptocurrency and non-fungible tokens, and acquiring high-end electronics, sports memorabilia, and luxury watches.

The embezzlement occurred between 2019 and 2023, with Patel's employment terminated by the team in February 2023. The case is now under legal scrutiny as the accused faces charges related to the significant financial misconduct during his tenure with the Jacksonville Jaguars.