Uncategorized

Former Yale employee will get nine years in jail after admitting to stealing $40 million from university

A damaged-down Yale College College of Remedy employee used to be sentenced to more than nine years in jail after she admitted to the theft of $40 million in computer and electronic hardware from the university.

Jamie Petrone, 42, used to be sentenced on Thursday. Her sentence might be followed by three years of supervised release. Petrone pleaded guilty to one rely of submitting a pretend tax return and one rely of wire fraud on March 28. 

She used to be arrested on Sept. 3, 2021.

Petrone, by her job at Yale College, made and licensed purchases for her division that were priced beneath $10,000. She began stealing from the university in 2013, when she ordered or precipitated other of us to expose electronics from university vendors that were value millions of bucks, in step with the Department of Justice, which added that she damaged-down university funds to bear the purchases.

FORMER YALE EMPLOYEE ADMITS TO STEALING $40 MILLION FROM IVY LEAGUE UNIVERSITY IN SECRET SCHEME

Yale College. 
(iStock)

Orders beneath $10,000 assemble now not require extra approval, in step with the DOJ.

On the time, Petrone used to be the director of finance and administration for the Yale College College of Remedy Department of Emergency Remedy.

In total, Petrone precipitated a loss of $40,504,200 to Yale, in step with the DOJ.

The DOJ stated Petrone damaged-down the money to lift “various interior most charges, including expensive vehicles, staunch property and creep.”

Petrone did not pay taxes on the money she received from 2013 to 2016, and he or she falsely claimed enterprise charges, inflicting a loss of $6,416,618 to the U.S. Treasury, in step with the DOJ.

MOTHER OF NAVY SEAL CANDIDATE WHO DIED DURING HELL WEEK FUMES OVER LACK OF ACTION, TRANSPARENCY 8 MONTHS LATER

Yale College of Remedy, at some level of the street from Yale-New Haven Hospital, New Haven, Connecticut.
(Getty Pictures)

The DOJ also stated that she would ship the electronics to an out-of-notify enterprise in exchange for money. That out-of-notify company, in step with the DOJ, is Maziv Leisure LLC., where Petrone is a important.

Petrone agreed to forfeit some of her property, including a few vehicles, besides to $560,421.14 from Maziv Leisure LLC.

“Petrone has agreed to forfeit $560,421.14 that used to be seized from the Maziv Leisure LLC bank myth, a 2014 Mercedes-Benz G550, a 2017 Land Rover/Fluctuate Rover Sv Autobiography, a 2015 Cadillac Escalade Top rate, a 2020 Mercedes Benz Mannequin E450A, a 2016 Cadillac Escalade (4 Door Sport), and a 2018 Dodge Charger,” the DOJ stated.

Yale College is a interior most Ivy League be taught university in New Haven, Connecticut.
(iStock)

As well, Petrone also agreed to “the liquidation of three Connecticut properties that she owns or co-owns to wait on fulfill her restitution responsibility.”

A property owned by Petrone in Georgia “is also subject to seizure and liquidation,” the DOJ stated.

CLICK HERE TO GET THE FOX NEWS APP

Frank Riccio, Petrone’s lawyer, stated that she is sorry for her actions and accepts responsibility for what she did.

“These days in court, Ms. Petrone profoundly apologized to Yale College for her inexcusable actions,” Riccio stated. “She continues to settle for responsibility and intends on persevering with with making restitution.”

A Yale College spokesperson informed Fox News Digital that it has implemented a few adjustments after the incident.

“Yale thanks guidelines enforcement in any appreciate stages for their dealing with of this case,” the spokesperson stated. “For the explanation that incident, the university has adopted extra measures to detect fraud; redesigned enterprise processes; and improved financial reporting, analytics, and dealing in direction of.”

The Connected Press contributed to this document.

Adam Sabes is a author for Fox News Digital. Sage pointers might moreover simply moreover be despatched to [email protected] and on Twitter @asabes10.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button