FanDuel denying Jaguars’ request to return $20 million in stolen funds
The Jacksonville Jaguars are trying to recoup stolen money lost by a former employee through sports betting and daily fantasy tournaments on FanDuel.
The franchise asked FanDuel for some or all of the about $22 million stolen by Amit Patel, a former Jaguars staff member, and subsequently wiped out via sports gambling, according to a report from ESPN.
An unnamed source told ESPN that discussions between the sportsbook, team, and the NFL were ongoing, although they threw water on a potential settlement between the parties.
The way FanDuel sees it … we got this money fair and clear, the source told ESPN. It’s not our problem that we have to forfeit it back to you I would be gobsmacked if it happened.
Patel reportedly lost roughly $20 million on FanDuel and another $1 million on DraftKings Sportsbook, per ESPN.
He pleaded guilty to stealing $22 million through a virtual credit card system in December.
ESPN previously reported thatPatel was known as a legendarily bad gamblerin sports betting circles.
A general view of the 50-yard line with the Jacksonville Jaguars logo on the field prior to an AFC Wild Card playoff game between the Jacksonville Jaguars and the Los Angeles Chargers. Getty ImagesA fellow daily fantasy player described Patel, who worked in Jacksonvilles finance department, as the biggest loser ever on FanDuel, according to a separate report from ESPNs David Purdum.
Patel reportedly entered several high-stakes contests with buy-ins of around $24,000 and bet nearly $500,000 on fantasy tournaments over the past six years.
In December, The Athletic reported that Patel was charged with wire fraud and illegal monetary transactions for an embezzlement scheme that took place from 2019 until early 2023.
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Patel lost approximately 99 percent of the stolen money through gambling and daily fantasy, per his attorney, Alex King.
Almost the entirety of the funds Mr. Patel used from the VCC were spent on the gambling websites and efforts to win money back, with the anticipation he would repay the funds with the winnings and make the Jaguars whole, King said in a statement, per The Athletic.
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