The Jacksonville Jaguars are trying to recoup stolen money lost by former employees through sports betting on FanDuel and daily fantasy tournaments.
The team is seeking some or all of the approximately $22 million that former Jaguars staffer Amit Patel stole and then wiped out through sports betting from FanDuel. According to a report by ESPN.
Anonymous sources told ESPN that talks are continuing between the sportsbooks, teams and the NFL, but discouraged any possibility of a settlement between the parties.
“road [FanDuel] look[s] It’s… we received this money fairly and clearly,” a source told ESPN. “It’s not our problem to have to give it back to you…I would be appalled if that happened.”
According to ESPN, Patel reportedly lost about $20 million on FanDuel and another $1 million on DraftKings Sportsbook.
He pleaded guilty in December to stealing $22 million through a virtual credit card system.
ESPN previously reported that Patel was known in the sports betting world as a “legendarily bad” gambler.
A fellow Daily Fantasy player described Patel, who worked in the city of Jacksonville’s finance department, as “the biggest loser in FanDuel history.” Another report from ESPN’s David Purdum.
Over the past six years, Patel has entered several high-stakes contests with buy-ins of around $24,000 and reportedly bet close to $500,000 on fantasy tournaments.
During December, The Athletic reported Patel was charged with wire fraud and unlawful financial transactions in an embezzlement scheme that occurred between 2019 and early 2023, the statement said.
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Her lawyer Alex King said Patel lost “approximately 99 per cent” of the stolen money through gambling and daily fantasies.
“Nearly all of the funds that Mr. Patel used from VCC were spent on gambling websites and efforts to recover the money in hopes that he would repay the funds with winnings and make the Jaguars healthy.” King said in a statement. , by The Athletic.
