Who is ex-Jaguars exec Amit Patel, accused of stealing $20 million to fund his opulent lifestyle?

The Jacksonville Jaguars have long harbored aspirations of clinching the coveted Lombardi Trophy, yet their quest for Super Bowl glory remains unfulfilled. Despite their efforts throughout the season, including concluding the regular season with a respectable 9-8 record, the Jaguars fell short of advancing past the wild card round of the playoffs in Super Bowl LVIII.

As the Jaguars prepare for the upcoming season, attention has turned to one of their former team members, Amit Patel, whose actions have had significant financial repercussions for the organization.

Who is Amit Patel accused of stealing $20 million?

Amit Patel is a former employee of the Jacksonville Jaguars who served the Jaguars from 2018 until recently. He reportedly had a role overseeing the organization’s monthly financial statements and department budgets. However, his tenure came to an abrupt end last February when he was allegedly involved in brazen financial crimes.

Patel faces serious charges, including one count of wire fraud and one count of illegal monetary transactions, amounting to a staggering $22 million. The accusations point towards Patel exploiting the team’s virtual credit card program for personal gains.

According to reports, Patel’s misuse of funds extended to an extravagant lifestyle. He stands accused of using the embezzled money to purchase a luxurious condo in Ponte Vedra Beach, Florida, a Tesla Model 3, a Nissan pickup truck, a designer watch valued at over $95,000, private jets, and accommodations in luxury hotels for travel.

Additionally, Patel is said to have invested in NFTs, secured a country club membership, and indulged in concert and sporting event tickets, per Yahoo Sports.

In response to the charges, Patel’s attorney, Alex King, released a statement on December 7, vehemently denying that Patel funded his lifestyle with stolen money. According to King, Patel’s home and car were acquired through family or earned funds.

Despite the denial, Patel pleaded guilty to fraud charges in federal court in Jacksonville, Florida, in December. As the legal proceedings unfold, Patel faces the prospect of up to 30 years in prison and a $500,000 fine. The sentencing is scheduled for March 12.

Jaguars demand FanDuel to give back stolen $20 million

Amit Patel’s financial troubles extend beyond the embezzlement scandal, as reports reveal his staggering losses amounting to approximately $20 million on daily fantasy and sports bets at FanDuel. Patel’s gambling activities were facilitated by the VIP host assigned to him by FanDuel.

After being aware of their former employee’s substantial heinous act, the Jaguars have taken action by requesting reimbursement from FanDuel for some or all of the funds. The situation escalated when FanDuel alerted the NFL to Patel’s betting activities in January 2023.

During a court appearance in December, Patel acknowledged his struggles with a “gambling disorder” and disclosed his ongoing therapy sessions aimed at addressing the issue. Nevertheless, despite Patel’s admission and the team’s efforts to recoup the losses, FanDuel has declined to comment on the matter and refuses to compensate Patel’s losses.

As discussions between the Jaguars, the NFL, and FanDuel continue, efforts to reach a settlement are underway.