Beautiful Virgin Islands

Monday, Jul 14, 2025

Ex-Yale employee used $40M in stolen tech equipment to fund lavish lifestyle

Ex-Yale employee used $40M in stolen tech equipment to fund lavish lifestyle

A former Yale University employee admitted to pilfering more than $40 million worth of electronics from the Ivy League school – and then using the proceeds of her scheme to fund a lavish lifestyle that included luxury cars, ritzy real estate and travel.

Jamie Petrone pleaded guilty to federal charges of wire fraud and filing a false tax return.

Jamie Petrone, a 42-year-old former director of finance and administration at Yale med school’s department of emergency medicine, pleaded guilty to federal charges of wire fraud and filing a false tax return.

In total, Petrone’s scheme cost Yale about $40.5 million. As part of her guilty plea, the ex-administrator forfeited more than $560,000 and turned over a fleet of high-end cars – including two Mercedes Benzes, two Cadillac Escalades, a Range Rover and Dodge Charger.

Petrone also agreed to sell off three properties in Connecticut as restitution. A fourth property she owns in Georgia also could be seized and sold.

The feds said Petrone, whose role authorized her to make equipment purchases for her department as long as the total value was below $10,000, either bought or directed employees to buy tech hardware using the school’s money.

Petrone would use her position to claim that Yale’s med school required the equipment, such as iPads and Microsoft Surface tablets, to help perform medical studies and other needs.

Petrone forfeited more than $560,000 and turned over a fleet of high-end cars – including two Mercedes Benzes, two Cadillac Escalades, a Range Rover and Dodge Charger.
Petrone’s role authorized her to make equipment purchases for her department as long as the total value was below $10,000 at a time.

Later, the goods were shipped to an unnamed out-of-state business, which sold the equipment for cash and wired the proceeds to an account controlled by Maziv Entertainment – where Petrone was listed as a principal.

Yale first questioned Petrone about suspicious transactions in 2020 and later received an anonymous tip about the high volume of equipment orders, triggering an internal investigation.

Petrone told FBI investigators last August that she conducted the scheme for “several years, possibly as many as 10 years” and noted that “approximately 90% of her computer-related purchases were fraudulent,” according to an affidavit viewed by the Hartford Courant.

Petrone never paid taxes on the money she received in exchange for the stolen equipment, according to authorities.


“Yale initially alerted authorities to evidence of suspected criminal behavior last year and fully cooperated throughout the investigation,” a Yale spokesperson told the outlet regarding the case. “The university thanks local law enforcement, the FBI, and the U.S. Attorney’s Office for their handling of the case. Since the incident, Yale has worked to identify and correct gaps in its internal financial controls.”

Federal officials said Petrone never paid taxes on the money she received in exchange for the stolen equipment. She filed several fraudulent returns claiming the cost of the stolen equipment as a business expense and didn’t file federal tax returns at all from 2017 through 2020.

Petrone was released on $1 million bond prior to her sentencing, which is slated for June.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
FBI Chief Kash Patel Denies Resignation Speculations Amid Epstein List Controversy
Air India Pilot’s Mental Health Records Under Scrutiny
Google Secures Windsurf AI Coding Team in $2.4 Billion Licence Deal
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
South African Police Minister Suspended Amid Organised Crime Allegations
Nvidia CEO Claims Chinese Military Reluctance to Use US AI Technology
Hong Kong Advances Digital Asset Strategy to Address Economic Challenges
Australia Rules Out Pre‑commitment of Troops, Reinforces Defence Posture Amid US‑China Tensions
Martha Wells Says Humanity Still Far from True Artificial Intelligence
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
U.S. Resumes Deportations to Third Countries After Supreme Court Ruling
Excavation Begins at Site of Mass Grave for Children at Former Irish Institution
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
EU Delays Retaliatory Tariffs Amid New U.S. Threats on Imports
Trump Defends Attorney General Pam Bondi Amid Epstein Memo Backlash
Renault Shares Drop as CEO Luca de Meo Announces Departure Amid Reports of Move to Kering
Senior Aides for King Charles and Prince Harry Hold Secret Peace Summit
Anti‑Semitism ‘Normalised’ in Middle‑Class Britain, Says Commission Co‑Chair
King Charles Meets David Beckham at Chelsea Flower Show
If the Department is Really About Justice: Ghislaine Maxwell Should Be Freed Now
NYC Candidate Zohran Mamdani’s ‘Antifada’ Remarks Spark National Debate on Political Language and Economic Policy
President Trump Visits Flood-Ravaged Texas, Praises Community Strength and First Responders
From Mystery to Meltdown, Crisis Within the Trump Administration: Epstein Files Ignite A Deepening Rift at the Highest Levels of Government Reveals Chaos, Leaks, and Growing MAGA Backlash
Trump Slams Putin Over War Death Toll, Teases Major Russia Announcement
Reparations argument crushed
Rainmaker CEO Says Cloud Seeding Paused Before Deadly Texas Floods
A 92-year-old woman, who felt she doesn't belong in a nursing home, escaped the death-camp by climbing a gate nearly 8 ft tall
French Journalist Acquitted in Controversial Case Involving Brigitte Macron
Elon Musk’s xAI Targets $200 Billion Valuation in New Fundraising Round
Kraft Heinz Considers Splitting Off Grocery Division Amid Strategic Review
Trump Proposes Supplying Arms to Ukraine Through NATO Allies
EU Proposes New Tax on Large Companies to Boost Budget
Trump Imposes 35% Tariffs on Canadian Imports Amid Trade Tensions
Junior Doctors in the UK Prepare for Five-Day Strike Over Pay Disputes
US Opens First Rare Earth Mine in Over 70 Years in Wyoming
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
Bitcoin Reaches New Milestone of $116,000
Biden’s Doctor Pleads the Fifth to Avoid Self-Incrimination on President’s Medical Fitness
Grok Chatbot Faces International Backlash for Antisemitic Content
Severe Heatwave Claims 2,300 Lives Across Europe
NVIDIA Achieves Historic Milestone as First Company Valued at $4 Trillion
Declining Beer Consumption Signals Cultural Shift in Germany
Linda Yaccarino Steps Down as CEO of X After Two Years
US Imposes New Tariffs on Brazilian Exports Amid Political Tensions
Azerbaijan and Armenia are on the brink of a historic peace deal.
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Weinstein Victim’s Lawyer Says MeToo Movement Still Strong
U.S. Enacts Sweeping Tax and Spending Legislation Amid Trade Policy Shifts
×