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Jaguars Sue Former Employee for USD66.6M Over USD22M Theft
The Jacksonville Jaguars have filed a $66.6 million lawsuit against a former employee accused of embezzling $22 million, highlighting a significant legal battle.
The Jacksonville Jaguars are suing former employee Amit Patel for $66.6 million in damages after Patel pleaded guilty to stealing over $22 million from the team. According to ESPN's Xuan Thai, the lawsuit accuses Patel of “fraudulent misrepresentation, breach of fiduciary duty, and civil theft.”
Patel pleaded guilty to wire fraud and illegal monetary transactions in December, receiving a sentence of six years and six months in federal prison in March. He was also ordered to pay the full restitution of $22.22 million to the Jaguars.
Jacksonville Jaguars sues ex-employee over USD 22 million theft
However, under Florida law, plaintiffs can seek treble damages, which can amount to three times the original damages. This provision allows the Jaguars to pursue $66.6 million in their civil suit.
The civil suit could provide the Jaguars with more flexibility in recovering the stolen money, according to Florida attorney Negin Kordbacheh. While Patel has already agreed to forfeit items purchased with the stolen funds, such as a Florida condo, a Tesla sedan, and a wristwatch, a civil suit victory could enable the team to seize Patel's legally obtained assets as well.
Patel had administered the Jaguars' virtual credit card program, which permitted employees to make company purchases on digital cards. Between 2019 and 2023, Patel made hundreds of fraudulent purchases using this program. In his plea agreement, Patel admitted to duplicating legitimate transactions and creating false ones to conceal his charges, using the stolen money to purchase personal items, including his condo, cryptocurrency, and sports betting.
Sports analysts are also highlighting the Jacksonville Jaguars’ case
One notable aspect of the case involves Patel's gambling activities. He lost approximately $20 million in stolen funds on the betting site FanDuel. The Jaguars requested FanDuel to return the proceeds, though the team has not provided an update on the status of that request.
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The Jaguars' lawsuit emphasizes the severity of Patel's actions and the financial impact on the team. By seeking treble damages, the Jaguars aim to not only recover the stolen funds but also secure additional compensation for the breach of trust and the financial misconduct.
The outcome of the civil suit will be crucial in determining the extent of the financial recovery for the Jaguars and the legal repercussions for Patel. Let us know in the comments what you think about the whole situation.
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