A former Yale University School of Medicine employee has been sentenced to more than nine years in prison after admitting to stealing $40 million worth of computers and electronic hardware from the university.
Jamie Petrone, 42, was sentenced Thursday. Her prison sentence will be followed by three years of supervised release. Petrone pleaded guilty to filing a false tax return on March 28 and one count of wire fraud.
She was arrested on September 3, 2021.
Petrone, through her job at Yale University, made and authorized purchases for her department that were priced under $10,000. She began stealing from the university in 2013 when she ordered or caused other people to order electronics from university vendors worth millions of dollars, according to the Justice Department, which added she was using university funds for the purchases.
FORMER YALE EMPLOYEE ADMITS TO STEALING $40 MILLION FROM IVY LEAGUE UNIVERSITY IN SECRET PLAN
Yale University.
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Orders under $10,000 do not require additional approval, according to the DOJ.
At the time, Petrone was Director of Finance and Administration for the Department of Emergency Medicine at Yale University School of Medicine.
Overall, Petrone caused a loss of $40,504,200 for Yale, according to the DOJ.
The DOJ said Petrone used the money to “purchase various personal expenses, including expensive cars, real estate, and travel.”
Petrone failed to pay taxes on the money it received from 2013 through 2016 and falsely claimed business expenses, causing the US Treasury Department to lose $6,416,618, according to the DOJ.
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Yale School of Medicine, across from Yale-New Haven Hospital, New Haven, Connecticut.
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The DOJ also stated that she would ship the electronics to an out-of-state company for money. This extra-state entity is Maziv Entertainment LLC., of which Petrone is a principal, according to the DOJ.
Petrone agreed to forfeit some of her assets, including several cars, in addition to $560,421.14 from Maziv Entertainment LLC.
Petrone has agreed to withhold $560,421.14 received from the bank account of Maziv Entertainment LLC, a 2014 Mercedes-Benz G550, a 2017 Land Rover/Range Rover Sv Autobiography, a 2015 Cadillac Escalade Premium, a 2020 Mercedes Benz Model E450A, a The 2016 seizures included a Cadillac Escalade (4-door Sport) and a 2018 Dodge Charger,” the DOJ said.
Yale University is a private Ivy League research university in New Haven, Connecticut.
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In addition, Petrone also “agreed to the liquidation of three properties in Connecticut that it owns or co-owns in order to meet its return obligation.”
A Petrone property in Georgia “is also being seized and liquidated,” the DOJ said.
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Frank Riccio, Petrone’s attorney, said she regrets her actions and accepts responsibility for her actions.
“In court today, Ms. Petrone issued a heartfelt apology to Yale University for her inexcusable actions,” Riccio said. “She continues to accept responsibility and intends to proceed with redress.”
A spokesman for Yale University told Fox News Digital that they made several changes after the incident.
“Yale thanks law enforcement at all levels for handling this case,” the spokesman said. “Since the incident, the university has taken additional steps to detect fraud, redesign business processes, and improve financial reporting, analytics, and training.”
The Associated Press contributed to this report.
