Former Jacksonville Jaguars accountant Amit Patel will be sentenced this week for his role in stealing $22 million from the team to use for sports betting and to purchase luxury items such as cars and cryptocurrencies. Patel, who is an admitted gambling addict, faces up to 20 years in prison and substantial restitution in the case.
In December of 2023 Patel pleaded guilty to one count of wire fraud and one count of engaging in an illegal monetary transaction in a Jacksonville courtroom. The former accountant was in charge of the Jaguars’ virtual credit card program, which he used to conceal his off-the-books spending between September 2018 and February 2023. Though much of the money was spent on gambling, Patel also purchased luxury cars, vacations, and even a vacation home with the pilfered cash.
As is so often the case with problem gamblers, Patel says that he was planning on reimbursing the team for the cash with cash he planned to win on sports betting and daily fantasy sports. As is also so often the case with problem gamblers, that never happened. In a statement reported on by ActionNewsJax.com, Patel’s attorney, Alex King described the plan saying, “Almost the entirety of the funds Mr. Patel used from the VCC were spent on the gambling websites and efforts to win money back, with the anticipation he would repay the funds with the winnings and make the Jaguars whole. Unfortunately, Mr. Patel’s compulsive gambling only exacerbated the situation, and he continued to misappropriate funds in an effort to have gambling winnings offset his significant losses.”
King is asking the judge to give Patel at least a year in prison while prosecutors are asking for a seven-year sentence. In either scenario, Patel will also be on the hook for around $500,000 in fines.