Home News United States: Yale University scammed of 40 million dollars by an employee

United States: Yale University scammed of 40 million dollars by an employee

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The scheme lasted eight years. From 2013, an employee of the prestigious Yale University (United States) defrauded her employer by reselling for her profit computer equipment ordered for the establishment. The total damage amounts to 40 million dollars, or approximately 36.2 million euros.

Jamie Petrone, 42, was hired from Yale University in 2008. She was given the position of Director of Finance and Administration for the Department of Emergency Medicine, where she was responsible for equipment purchases, with a ceiling of $10,000.

It was therefore a few years after her arrival, from 2013, that the forties began to order computer equipment on a massive scale, taking care however not to exceed the maximum authorized. Jamie Petrone made purchases on his behalf or asked other staff to do so. According to NBC News, he sometimes split certain orders so that their amount did not exceed the $10,000 threshold.

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A luxurious lifestyle

The stolen equipment was then shipped to a resale company. Jamie Petrone had ensured that the latter was located outside the state of Connecticut and that it paid him the profits from the transaction. The money was paid into the account of a company that the fraudster had created specifically for this purpose.

According to information from the New York Post, the employee was questioned for the first time in 2020, concerning purchases deemed suspicious. Then Yale University received an anonymous report directly incriminating it and highlighting the high volume of equipment orders. An internal investigation was then opened.

It brought to light the luxurious lifestyle of the director of finance and administration of the department of emergency medicine. Jamie Petrone notably owned 6 luxury cars and several real estate properties. Some of those properties were seized as part of the proceedings against him, including three homes in Connecticut and another in Georgia.

The 40-year-old pleaded guilty and estimated that 90% of her computer-related purchases were fraudulent. According to her lawyer, Frank J. Riccio II, she expresses “remorse” and is now awaiting her judgment, scheduled for June 29. She faces 20 years in prison.

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