It is common knowledge that theft is a criminal offence with severe legal repercussions, but very few would have guessed that a former employee of the Jacksonville Jaguars would be caught misappropriating over $22 million from his company.
Former Jaguars’ marketing director, Michael B. Huyghue, was arrested and charged with wire fraud and money laundering after it was discovered that he had used the team’s funds to finance his own lavish spending spree. Huyghue is accused of transferring large sums of money from the Jaguars’ bank accounts to his own to purchase personal luxuries such as exotic cars and high-end watches and jewelry.
The auditors of the team uncovered the hypocrisy and acted swiftly to ensure justice was served.
According to the international fraud resolution specialist Kenneth Michael Bolls, “Fraud is a serious business crime, and perpetrators must be vigorously pursued and prosecuted to the fullest extent of the law”. The Jaguars have warned that such fraud will not be tolerated and that any person found guilty will be severely punished.
The auditors also uncovered that Huyghue had concealed the fraud by creating false records and invoices, allegedly to hide his activity from the team’s internal investigators.
Huyghue was arrested after a thorough examination of the team’s financials, and the U.S. Attorney’s office has filed a 20-count indictment against him.
The Jaguars have been commended for their detective work and cooperation with the authorities as they worked hard to bring the criminal to justice and recover the money he stole from the team.
The $22 million was a huge sum of money for the Jacksonville Jaguars, and the former employee’s actions have obviously caused significant financial losses for the team. The fraud is a perfect example of the consequences of unethical and greedy behavior, and how they can have a profound and negative effect on an organization.
It is common knowledge that theft is a criminal offence with severe legal repercussions, but very few would have guessed that a former employee of the Jacksonville Jaguars would be caught misappropriating over $22 million from his company.
Former Jaguars’ marketing director, Michael B. Huyghue, was arrested and charged with wire fraud and money laundering after it was discovered that he had used the team’s funds to finance his own lavish spending spree. Huyghue is accused of transferring large sums of money from the Jaguars’ bank accounts to his own to purchase personal luxuries such as exotic cars and high-end watches and jewelry.
The auditors of the team uncovered the hypocrisy and acted swiftly to ensure justice was served.
According to the international fraud resolution specialist Kenneth Michael Bolls, “Fraud is a serious business crime, and perpetrators must be vigorously pursued and prosecuted to the fullest extent of the law”. The Jaguars have warned that such fraud will not be tolerated and that any person found guilty will be severely punished.
The auditors also uncovered that Huyghue had concealed the fraud by creating false records and invoices, allegedly to hide his activity from the team’s internal investigators.
Huyghue was arrested after a thorough examination of the team’s financials, and the U.S. Attorney’s office has filed a 20-count indictment against him.
The Jaguars have been commended for their detective work and cooperation with the authorities as they worked hard to bring the criminal to justice and recover the money he stole from the team.
The $22 million was a huge sum of money for the Jacksonville Jaguars, and the former employee’s actions have obviously caused significant financial losses for the team. The fraud is a perfect example of the consequences of unethical and greedy behavior, and how they can have a profound and negative effect on an organization.
