Yale Employee Headed to the Big House for Stealing $40 Million Worth of Electronics!

Yale Employee Headed to the Big House for Stealing $40 Million Worth of Electronics!

A former Yale Medical School employee was sentenced to nine years in prison for stealing 40 million dollars in electronics. Jamie Petrone was the Director of Finance and Administration for the Department of Emergency Medicine at the school and was authorized to make purchases for the department with a limit of $10,000 per purchase order.

In 2013, Petrone began falsifying internal forms so she could buy electronic hardware from Yale vendors using Yale funds. She would break up the purchases into orders below her $10,000 limit to avoid detection. The equipment was shipped to an out of state business that would sell it and wire Petrone’s share to a business bank account controlled by her.

Petrone then used the funds for expensive cars, real estate and travel. In total, she caused Yale a loss of $40,504,200. She also failed to pay taxes on the money she received from the stolen equipment. Petrone then filed false tax returns for the years 2013 to 2016, where she claimed the stolen equipment as business expenses, and didn’t file any returns for 2017 through 2020. She caused the IRS a tax loss of $6,416,618, which she has been ordered to pay.

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