The Jacksonville Jaguars need FanDuel to reimburse them for some or the entire roughly $20 million that former worker Amit Patel stole and used on the positioning, however the playing firm is refusing, according to ESPN.
Patel, who pleaded guilty to felony costs of wire fraud and unlawful financial transaction, obtained the dough via a digital bank card system that Jacksonville would use for bills. Sources advised ESPN that Patel misplaced $20 million on every day fantasy and sports activities bets on FanDuel and about $1 million on DraftKings. He straight transferred the cash from the bank card system to the favored betting service.
“The way they (FanDuel) see it … we got this money fair and clear,” the supply mentioned. “It’s not our problem that we have to forfeit it back to you.”
The Jags mentioned they weren’t conscious of the scheme till they had been alerted by FanDuel that some bets of unknown worth had been positioned in Tennessee. They had been additionally notified by the NFL of Patel’s stealing.
“Gambling sites have a duty to perform ‘Anti-Money Laundering’ and ‘Know Your Client’ procedures to ensure they do not onboard funds of an illicit origin,” mentioned Stephen Bell, an lawyer who practices in white-collar legal instances to ESPN. “Where the size of a customer’s bets far outweighs their income, red flags are present and should require additional due diligence to confirm the funds are clean.”
Back in December, Patel’s lawyer Alex King mentioned when his shopper’s losses started to pile up, he used the VCC program to subsidize them.
“It started with a little bit and, as these things usually do, spiraled wildly out of control,” King advised The Athletic in a phone interview.
