The former Jacksonville Jaguars employee who stole $22 million from the franchise was sentenced to 78 months in prison.
Amit Patel, the Jaguars’ former financial manager, pleaded guilty to stealing $22 million through a virtual credit card system used for expenses in Jacksonville as part of a plea deal in a Florida court in December.
The U.S. District Court for the Middle District of Florida handed down the sentence Tuesday.
The 31-year-old worked for the Jaguars organization from 2018 to February 2023, after betting site FanDuel alerted the NFL to his activity a month earlier.
Federal court documents alleged he diverted funds over a three-and-a-half-year period.
Amit Patel, the Jaguars’ former financial manager, was sentenced Tuesday to 78 months in prison.
Patel, 31, worked as the Jaguars’ financial manager from 2018 to February 2023.
It is understood that the Jaguars were not aware of the embezzlement scheme or Patel’s gambling habit until they were notified by the NFL.
Patel was accused of using the stolen funds to purchase two vehicles (a Tesla pickup truck and a Nissan), a condo on nearby Ponte Vedra Beach, a $95,000 designer watch, and cryptocurrency.
He also allegedly used the money to purchase sports memorabilia, country club memberships, spa treatments and tickets to sporting events and concerts. And he rented private planes for himself and his friends and made an advance payment to a criminal defense law firm.
He was also reported to have placed a series of large-money bets on online gambling sites, FanDuel and DraftKings.
According ESPNhe lost approximately $20 million in daily sports and fantasy bets on FanDuel, which he is said to have been assigned a VIP host.
Patel is also believed to have lost $1 million on rival betting site DraftKings.
Patel’s attorney, Alex King, said in a statement that his client suffers from addiction and that “approximately 99% of the funds misappropriated from the Jaguars’ VCC were gambling losses.” The attorney also said his client is “deeply remorseful” and is receiving treatment for his addiction.
The Jaguars, owned by billionaire Shahid Khan (right), had no knowledge of the embezzlement
ESPN reported late last year that since 2017 Patel, playing under the name ParlayPicker – Bet nearly $500,000 on fantasy tournaments from the NFL, Major League Baseball, PGA Tour and UFC.
He would soon play on FanDuel, DraftKings, and Patel. He made a name for himself for his big losses and rookie mistakes within gaming circles.
As his reputation for recklessness spread, other players would seek out games against him. One player thinks ParlayPicker might be ‘the biggest loser ever on FanDuel.’
“He was legendarily bad,” they said.
Fellow bettors told ESPN they believe his biggest losses came in high-stakes games he regularly participated in, against elite opponents, with a buy-in of more than $24,000.
“It came out of nowhere,” one bettor told ESPN. “I remember having side conversations with some of my friends, who were like, ‘Who is this guy? And what is he doing? “‘
Fellow players noted that Patel would pick players who were not in the starting lineup. Occasionally he wouldn’t even field a team, despite paying a $3,000 entry fee, one claimed.
Last month, the Jaguars asked FanDuel to return some, if not all, of the stolen $20 million Patel lost on the site.
Although despite asking the company to reimburse them for the $20 million in stolen profits, FanDuel is not willing to return money to the Jaguars.
Under federal law, FanDuel is required to ensure that funds used on its site are obtained legally, and additional due diligence is required for bets that exceed the customer’s income.
