FanDuel agreed to return approximately $5 million to the Jacksonville Jaguars after a former Jaguars employee stole and deposited $20 million into his sportsbook account, ESPN reports.
Amit Patel, a former finance manager for the Jaguars, pleaded guilty to using a virtual credit card system intended to cover team expenses to steal $22 million.
Key Takeaways
- FanDuel is one of the NFL’s official betting partners and wanted to act in good faith.
- The sportsbook originally did not want to return funds since they were legally obtained.
- Patel is facing a new charge that could carry a 30-year sentence.
The NFL pushed but did not demand the Jaguars and FanDuel reach a resolution, sources told ESPN.
FanDuel, one of the NFL’s official betting partners, reportedly felt motivated to help settle with the Jaguars in good faith. That sentiment represented a change from the company’s initial stance.
FanDuel received the money for high-stakes daily fantasy sports and wagers submitted at FanDuel Sportsbook.
“The way (FanDuel) see(s) it ... we got this money fair and clear,” a source told ESPN after the fraud was first reported in February 2024. “It's not our problem that we have to forfeit it back to you.”
Patel was sentenced to six-and-a-half years in prison for wire fraud and illegal monetary transactions in March 2024. He was relocated to a prison in Duval County, Florida, in July after prosecutors charged him with one count of first-degree organized fraud, which carries a maximum 30-year sentence in the state.
The Jaguars sued Patel for $66.6 million in treble damages in July. Patel responded in October by suing FanDuel for $250 million, claiming it took advantage of his gambling addiction and ignored responsible gaming standards and anti-money laundering rules.
Was the gambling addiction real?
Patel’s lawsuit revealed he made more than 1,000 deposits of $25,000 to FanDuel. The suit claimed those deposits should have triggered an alert system designed to combat gambling addiction and money laundering.
The former finance manager had hoped to win back money from FanDuel - as well as DraftKings, with whom he deposited $1 million - to win back the money he had already lost.
“(It was) a horribly misguided effort to pay back previous gambling losses,” Patel’s attorney argued.
Federal authorities argued Patel did not have a gambling addiction despite him being diagnosed with one in March 2023, one month after the Jaguars fired him. They claimed his behavior was consistent with his lavish lifestyle, which included purchases of multiple vehicles, cryptocurrency, a country club membership, spa visits, and an opulent wristwatch, along with reserving private jets and luxury hotels.
Patel awaits verdict on new charge
Patel worked with the Jaguars’ finances from 2018-23. He was fired in February and pleaded guilty to wire fraud and illegal monetary transaction on Dec. 14, 2024. He has not pleaded guilty to the new charge of first-degree organized fraud.
Despite the ties to Jacksonville, FanDuel is not licensed to operate in Florida. The state’s gaming agreement put control of the market in the hands of the Seminole tribe, who are partnered with Hard Rock Bet.
