FanDuel reportedly agrees to pay Jaguars $5 million for employee theft covering gambling losses Ian CasselberrySeptember 13, 2025 at 4:35 AM 0 Sports betting company FanDuel has agreed to pay approximately $5 million to the Jacksonville Jaguars as restitution for more than $20 million that a former ...
- - FanDuel reportedly agrees to pay Jaguars $5 million for employee theft covering gambling losses
Ian CasselberrySeptember 13, 2025 at 4:35 AM
0
Sports betting company FanDuel has agreed to pay approximately $5 million to the Jacksonville Jaguars as restitution for more than $20 million that a former employee stole from the team to transfer to the sportsbook, ESPN reports.
Amit Patel, who worked in financial planning and analysis for the Jaguars from 2018-23, was charged with one count of wire fraud and one count of illegal monetary transaction for allegedly stealing $22 million over a three-year period through a virtual credit card system set up to pay for business expenses.
Patel eventually pleaded guilty to the federal charges. His attorney told The Athletic in December 2023 that Patel has a "serious gambling addiction" and stole the money to cover his betting losses. In March 2024, Patel was sentenced to 6 1/2 years in prison and was ordered to pay $21 million in restitution.
Initially incarcerated in an Alabama federal prison, Patel was moved to a jail in Duval County, Florida when state prosecutors filed grand theft charges against him. He faces up to 30 years in prison for the first-degree felony.
In a case still pending, the Jaguars also sued Patel in Florida state court, seeking $66.6 million in damages.
FanDuel and the Jaguars agreed to the deal earlier this year, according to ESPN's Xuan Thai and Don Van Natta Jr. The NFL encouraged the two sides to reach a resolution, but reportedly did not play an active role in those discussions. Ultimately, FanDuel reportedly decided to pay the Jaguars to maintain a good relationship with the NFL, for whom the company is one of the league's official betting partners.
The Jaguars previously asked FanDuel to reimburse the team for all of the stolen funds, but the gambling company refused. In February 2024, the company's stance was reportedly that they received the $22 million through fair means and as a result, did not have to return any of the money back to the Jaguars.
Neither the Jaguars, the NFL or FanDuel have officially commented on the reported settlement.
Last October, Patel sued FanDuel in federal court, seeking $250 million in compensatory and punitive damages. The lawsuit claimed that FanDuel should have known that Patel was a problem gambler based on the frequency and amount of wagers he was placing, but intentionally ignored its responsible gaming and anti-money laundering protocols. He also alleged that the company knew he was employed by an NFL team and thus should not have been allowed to gamble with the sportsbook.
However, federal authorities disputed Patel's claim that the money stolen was fueled entirely by a gambling addiction.
The embezzled funds also bankrolled a lifestyle of extravagant purchases including chartering private jets, reserving rooms at luxury hotels, purchasing multiple vehicles, country club memberships, spa treatments, catering expenses, cryptocurrency purchases, tickets for concerts and sporting events, and lawyer retainers. Additionally, Patel created fictitious transactions that never occurred.
In his role with the team, Patel was in charge of the virtual credit card program he exploited, while overseeing the Jaguars' monthly financial statements and department budgets.
Source: "AOL AOL Sports"
Source: CUSTOS NEWS
Full Article on Source: CUSTOS NEWS
#US #ShowBiz #Sports #Politics #Celebs
