OT: Jags employee steals $22m from team; loses $20m on Fanduel

[rcube1994]

https://www.espn.com/nfl/story/_/id...aguars-theft-high-stakes-daily-fantasy-player

ParlayPicker developed a reputation for loose play and rookie mistakes. Crawford remembered ParlayPicker submitting rosters that included players who weren't in the starting lineup. Matt Smith, a well-known daily fantasy pro, told ESPN that ParlayPicker would "occasionally not even submit a lineup, despite it being a $3,000 buy-in."

One veteran DFS player, who communicated with ESPN on condition of anonymity, said they believe ParlayPicker is "the biggest loser ever on FanDuel." "He was legendarily bad," the person added.

https://www.jacksonville.com/story/...llions-stolen-daily-fantasy-bets/72454503007/

Patel pleaded guilty to wire fraud and illegal monetary transactions charges in federal court after stealing $22 million with a virtual credit card from the Jaguars, with whom he worked in the finance department from 2018 to 2023. The ESPN report that came out Friday said Patel lost $20 million of the stolen funds in daily fantasy and sports bets placed with FanDuel.

According to Friday's ESPN report, about $21 million of the $22.2 million Patel stole from the Jaguars went to daily fantasy games and sports betting between two sites: FanDuel ($20 million) and DraftKings ($1 million). A previous ESPN report said Patel was a "high-volume, high-stakes daily fantasy sports player known for racking up big losses."

Jags asked Fanduel to reimburse them; as you would expect Fanduel told them to suck it.

 

[Rutgers Chris]

https://www.espn.com/nfl/story/_/id...aguars-theft-high-stakes-daily-fantasy-player

ParlayPicker developed a reputation for loose play and rookie mistakes. Crawford remembered ParlayPicker submitting rosters that included players who weren't in the starting lineup. Matt Smith, a well-known daily fantasy pro, told ESPN that ParlayPicker would "occasionally not even submit a lineup, despite it being a $3,000 buy-in."

One veteran DFS player, who communicated with ESPN on condition of anonymity, said they believe ParlayPicker is "the biggest loser ever on FanDuel." "He was legendarily bad," the person added.

https://www.jacksonville.com/story/...llions-stolen-daily-fantasy-bets/72454503007/

Patel pleaded guilty to wire fraud and illegal monetary transactions charges in federal court after stealing $22 million with a virtual credit card from the Jaguars, with whom he worked in the finance department from 2018 to 2023. The ESPN report that came out Friday said Patel lost $20 million of the stolen funds in daily fantasy and sports bets placed with FanDuel.

According to Friday's ESPN report, about $21 million of the $22.2 million Patel stole from the Jaguars went to daily fantasy games and sports betting between two sites: FanDuel ($20 million) and DraftKings ($1 million). A previous ESPN report said Patel was a "high-volume, high-stakes daily fantasy sports player known for racking up big losses."

Jags asked Fanduel to reimburse them; as you would expect Fanduel told them to suck it.

I need a Netflix documentary asap

 

[Zak57]

Do the online gambling companies have any semblance of KYC/AML? Do they have to?

 

[Rutgers Chris]

Do the online gambling companies have any semblance of KYC/AML? Do they have to?

Yes and yes

 

[rurichdog]

Do the Jaguars have any semblance of financial controls and auditing? LOL

 

[Rutgers Chris]

Do the Jaguars have any semblance of financial controls and auditing? LOL

That’s my question. $20 million through a company credit card? And they had Calvin Ridley suspended for a year for sports betting

 

[ashokan]

 

[rutgersdave]

That’s my question. $20 million through a company credit card? And they had Calvin Ridley suspended for a year for sports betting

At my prior company at one location, they were abusing company credit cards and probably stole a couple hundred thousands before they were discovered. $20 million means there were no controls. If you have great budgets, you can catch thefts. I use to see when we double paid a couple of hundred thousand dollar invoices by reviewing against the budget and getting the money back. One location where I was the financial manager I discovered a gas leak because the utility bill for the month was double the usual usage, the leak was outside the building. Only because I had great detailed budgets. Lot of locations don’t feel like they need good accounting controls, it cost money to hire good employees.

When I was an auditor, I caught a defalcation when the person stole about $50k over a 6 month period. If I didn’t discover it, the girl would have stole for several years since she was the control person for the cash. Auditors seldom catch what going on.

 

[RUScrew85]

Do the Jaguars have any semblance of financial controls and auditing? LOL

The thief worked in the finance department. Possible HE was the control.

 

[rutgersdave]

The thief worked in the finance department. Possible HE was the control.

Probably but the Controller should have caught it.

 

[T2Kplus20]

I need a Netflix documentary asap

Just watched Netflix Get Gotti and Case Against Boeing. They do a great job with documentaries!

 

[e5fdny]

So he’s still +$2M?

 

[rcube1994]

So he’s still +$2M?

No, wasted it on other stuff. Love that he used the stolen money to pay for his lawyer.

• 2021 Tesla Model 3 with a value of $40,625
• Nissan pickup truck
• Membership at a country club
• Two-bedroom condo in Ponte Vedra Beach, Florida, that according to charging documents, is valued at more than $265,000
• Personal travel for himself and friends, including chartering private jets and booking luxury hotels and private rental residences
• Cryptocurrency, non-fungible tokens (NFTs)
• Electronics and sports memorabilia
• Concert and sporting event tickets
• Home furnishings
• Patek Phillippe Nautilus watch for $95,484.15
• A retainer with a criminal defense law firm

 

[rcube1994]

Just watched Netflix Get Gotti and Case Against Boeing. They do a great job with documentaries!

I just watched Bitconned. Couple of losers set up a fake crypto company, eventually got caught. Not sure how accurate the story is but the Ray Trapani guy is complete scum.

 

[T2Kplus20]

I just watched Bitconned. Couple of losers set up a fake crypto company, eventually got caught. Not sure how accurate the story is but the Ray Trapani guy is complete scum.

I'll check it out. Also, eagerly awaiting the Netflix FTX documentary! That's gotta be in the works. :)

 

[rurichdog]

The thief worked in the finance department. Possible HE was the control.

Can't have a single point of control and call the books "in control". I'm not in finance and I know that. Everyone reports to someone else, internal audit, external audit, etc.

 

[Rutgers Chris]

Just watched Netflix Get Gotti and Case Against Boeing. They do a great job with documentaries!

Gotta watch Bitconned

 

[T2Kplus20]

Gotta watch Bitconned

Just watched the trailer, looks like a blast! Will check it out tomorrow.

 

[RUScrew85]

Can't have a single point of control and call the books "in control". I'm not in finance and I know that. Everyone reports to someone else, internal audit, external audit, etc.

You're preaching to the choir. I was simplifying the situation.

 

[tico brown]

Do the Jaguars have any semblance of financial controls and auditing? LOL

With the way they run their wrestling company, they’re better off gambling $20 million on Fanduel.

 

[yesrutgers01]

I always wnder when I see these people doing something that will eventually be caught, and they are putting money into things like homes.
I would play like crazy- invest in things like crypto and art- have a ton of fun- have off shore and as soon as I feel an itch - be gone with all of that to somewhere with no extradition.
Even if you end up with %5mil and away from everything- you have a great life- just saying