Jaguars Demand $20 Million Reimbursement from FanDuel
In a shocking turn of events, the Jacksonville Jaguars are demanding that FanDuel reimburse them for the staggering $20 million stolen by former employee Amit Patel. Patel, who recently pleaded guilty to wire fraud and illegal monetary transaction charges, managed to obtain the funds through a virtual credit card system used by the Jaguars for their expenses. ESPN reports that Patel lost a whopping $20 million on daily fantasy and sports bets on FanDuel, along with an additional $1 million on DraftKings.
According to sources, Patel directly transferred the stolen money from the credit card system to the popular betting service. However, when the Jaguars approached FanDuel with their demand for reimbursement, the gambling company flatly refused. “The way they (FanDuel) see it… we got this money fair and clear,” a source revealed. “It’s not our problem that we have to forfeit it back to you.”
The Jaguars claim that they were completely unaware of Patel’s scheme until FanDuel alerted them to some suspicious bets placed in Tennessee. They were also informed by the NFL about Patel’s illegal activities. Attorney Stephen Bell, who specializes in white-collar criminal cases, emphasized that gambling sites have a responsibility to perform “Anti-Money Laundering” and “Know Your Client” procedures to prevent illicit funds from being used. Bell further argued that when a customer’s bets greatly exceed their income, red flags should be raised, prompting additional due diligence to ensure the funds are clean.
Patel’s lawyer, Alex King, previously explained that his client resorted to using the VCC program to cover his mounting losses. “It started with a little bit and, as these things usually do, spiraled wildly out of control,” King stated in an interview with The Athletic.
The Jaguars’ demand for reimbursement from FanDuel has created a stir in the sports gambling world. Will the gambling company cave in to the team’s request or maintain their stance? Only time will tell. Stay tuned for updates on this jaw-dropping scandal.
