A former financial planning manager with the Jacksonville Jaguars is facing federal charges for allegedly stealing over $22 million from the team. According to court documents, Amit Patel is accused of using the stolen funds to purchase a condo, charter private jets, buy a Tesla, a $95,000 watch, and more. The U.S. Attorney’s Office of the Middle District of Florida filed charges against Patel, who is also accused of engaging in illegal monetary transactions.
The Jaguars confirmed Patel’s employment termination in February 2023 and stated that they have been cooperating with the FBI and the U.S. Attorney’s Office during their investigation. Patel, who was in charge of financial planning and analysis, allegedly used a corporate VCC to carry out the fraudulent transactions.
If found guilty, Patel will have to forfeit property equal to the $22,221,454 sum, including his condo, Tesla, and the watch, which has since been devalued to $82,000. The Jaguars have emphasized that no other team employees were involved or aware of Patel’s criminal activity. The team engaged law and accounting firms to conduct an independent review, which concluded that no confidential football information was compromised.
Historically, instances of financial fraud within Sports organizations have had significant consequences on both the reputation and financial stability of the teams involved. The case involving Patel serves as a reminder of the importance of implementing robust internal controls and oversight to safeguard against potential fraudulent activities.
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