JACKSONVILLE, Fla. – A former Jacksonville Jaguars financial manager accused of stealing more than $22 million from the franchise pleaded guilty in federal court Thursday to charges of wire fraud and making illegal transactions and agreed to pay the money back.
Amit Patel, who was fired earlier this year, is accused of spending the team’s money -- starting in 2019 -- by using its virtual credit card program on private jet rides, luxury hotels for himself and friends, cryptocurrency, a country club membership, spa treatments, event tickets, a Tesla, a $95,000 designer watch -- and gambling.
Patel is facing a maximum of 30 years in prison.
Patel’s attorney, Alex King of First Coast Criminal Defense in Jacksonville, said Patel’s “modest residence was paid for mostly with family money and other money earned.”
“Mr. Patel did not use the Jaguars’ VCC to fund his lifestyle, but in a horribly misguided effort to pay back previous gambling losses that utilized the Jaguars’ VCC program.”
King said Patel has a gambling addiction and sought treatment for that in rehab last spring. In a statement, King said “approximately 99% of the funds misappropriated” from the team were gambled away.
“Mr. Patel suffers from a serious gambling addiction, and in the spring of this year, checked himself into extensive, inpatient rehabilitation to address his addiction,” King said. “Mr. Patel’s serious gambling addiction does not excuse his actions, which he takes full responsibility for.”
King said Patel, who is deeply remorseful and apologizes for his conduct, kept gambling in hopes of winning back his money and repaying the misappropriated funds.
The NFL met with Patel in February as part of an investigation into his gambling, most of which took place on two prominent websites. The Jaguars subsequently suspended and later fired Patel, King said. Patel had worked for the team for five years, starting in 2018.
Patel intends to seek ongoing treatment for the foreseeable future and remains in treatment and recovery for his gambling addiction, King said.
“Although incomprehensible to most, a gambling addiction is similar to substance abuse, such that the disorder can stimulate the brain’s dopamine response much like drugs or alcohol do,” King said. “It provides an uncontrollable urge to keep gambling despite the toll it takes on one’s life, and creates a willingness to risk more and more, despite the impact it has.”
King said Patel regrets the actions that both cost him his dream job with the Jaguars and damaged the organization.
Apart from repaying the $22 million, Patel will forfeit his Tesla, Ponte Vedra Beach condo, and a $95,000 watch he bought with the Jags’ money.
Patel left the courthouse Thursday afternoon after being granted a $10,000 bond. Neither he nor his attorney spoke as they left the courtroom.
Patel’s sentencing will come at a later date.