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FanDuel has reached a $5 million settlement with the Jacksonville Jaguars, closing the chapter on a fraud scheme that saw millions in stolen team money funneled into sportsbook accounts.
Good to Know
The settlement stems from a scheme run by Amit Patel, a former Jaguars financial manager, who misused the team’s virtual credit card program between 2019 and 2023. Prosecutors said Patel duplicated or inflated charges for team expenses like travel, lodging, and catering. He also created fake transactions that looked legitimate in team records.
By the time he was caught, Patel had siphoned off $22 million. Nearly $20 million of that amount ended up in FanDuel accounts, where he placed bets until one of his wagers raised flags with the NFL.
FanDuel, an official NFL betting partner, opted to settle with the Jaguars rather than fight in court. The agreement closes one part of the complex case, though Patel’s actions continue to reverberate.
Patel is currently serving a six-and-a-half-year sentence in a South Carolina federal prison. In an unusual twist, he also filed a $250 million lawsuit against FanDuel in October 2024, claiming the operator ignored responsible gambling and anti-money laundering obligations by allowing him to place wagers at the scale he did, despite his role with an NFL team.
The Jaguars separately sued Patel in July 2024 for more than $66 million in damages. Court filings revealed he had control over both the team’s financial records and its virtual card system, giving him broad ability to manipulate accounts without detection.
Prosecutors detailed how the scheme lasted from September 2019 through February 2023. It only came to light after betting activity tied to Patel drew league scrutiny, leading to a deeper investigation.