Ex-Yale employee gets nine years in prison after admitting to stealing M from university

Ex-Yale employee gets nine years in prison after admitting to stealing $40M from university

A former Yale College Faculty of Drugs worker was sentenced to greater than 9 years in jail after she admitted to the theft of $40 million in laptop and digital {hardware} from the college.

Jamie Petrone, 42, was sentenced on Thursday. Her sentence might be adopted by three years of supervised launch. Petrone pleaded responsible to at least one depend of submitting a false tax return and one depend of wire fraud on March 28. 

She was arrested on Sept. 3, 2021.

Petrone, by means of her job at Yale College, made and licensed purchases for her division that had been priced under $10,000. She started stealing from the college in 2013, when she ordered or brought on different individuals to order electronics from college distributors that had been price thousands and thousands of {dollars}, in keeping with the Division of Justice, which added that she used college funds to make the purchases.

Orders under $10,000 don’t require further approval, in keeping with the DOJ.

On the time, Petrone was the director of finance and administration for the Yale College Faculty of Drugs Division of Emergency Drugs.

In complete, Petrone brought on a lack of $40,504,200 to Yale, in keeping with the DOJ.

The DOJ stated Petrone used the cash to purchase “varied private bills, together with costly automobiles, actual property and journey.”

Petrone pleaded responsible to at least one depend of submitting a false tax return and one depend of wire fraud.
Getty Photos

Petrone did not pay taxes on the cash she acquired from 2013 to 2016, and he or she falsely claimed enterprise bills, inflicting a lack of $6,416,618 to the U.S. Treasury, in keeping with the DOJ.

Yale Faculty of Drugs, throughout the street from Yale-New Haven Hospital, New Haven, Connecticut. (Getty Photos)

The DOJ additionally acknowledged that she would ship the electronics to an out-of-state enterprise in change for cash. That out-of-state firm, in keeping with the DOJ, is Maziv Leisure LLC., the place Petrone is a principal.

Petrone agreed to forfeit a few of her property, together with a number of automobiles, along with $560,421.14 from Maziv Leisure LLC.

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

As well as, Petrone additionally agreed to “the liquidation of three Connecticut properties that she owns or co-owns to assist fulfill her restitution obligation.”

A property owned by Petrone in Georgia “can also be topic to seizure and liquidation,” the DOJ stated.

Jamie Petrone was sentenced to extra then 9 years in jail.
Tim Clayton/Corbis by way of Getty Photos

Frank Riccio, Petrone’s legal professional, stated that she is sorry for her actions and accepts accountability for what she did.

“At the moment in courtroom, Ms. Petrone profoundly apologized to Yale College for her inexcusable actions,” Riccio stated. “She continues to simply accept accountability and intends on persevering with with making restitution.”

A Yale College spokesperson instructed Fox Information Digital that it has applied a number of modifications after the incident.

“Yale thanks regulation enforcement in any respect ranges for his or her dealing with of this case,” the spokesperson stated. “Because the incident, the college has adopted further measures to detect fraud; redesigned enterprise processes; and improved monetary reporting, analytics, and coaching.”

The Related Press contributed to this report.

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