Former Yale Director Admits To Stealing $40 Million Worth Of Electronics From University
After working for Yale School of Medicine, a former administrator pleaded guilty to taking and reselling over $40 million worth of computers and other electronic devices.
On Monday, Jamie Petrone, 42, pleaded guilty to one count of wire fraud and one count of filing a fake tax return. One charge could result in a 20 year sentence. The latter charge carries a maximum sentence of three years, says the U.S. Attorney’s Office.
The director of university media relations at the school said that they “alerted authorities to evidence of suspected criminal behavior last year and fully cooperated throughout the investigation.”
As the director of finance, Petrone was allowed to make and approve various purchases for the needs of her department. However, the purchases had to be under $10,000.
Beginning in 2013, Petrone conducted an operation where she would have others, or sometimes herself, buy millions of dollars of hardware from Yale vendors with Yale med money. Then, she would send the items to a business out of the state in order to receive money for them.
Petrone would document that the hardware was for the needs of the students for doing such things as studies. She would also ensure that the purchases were under $10,000 each time, so that no one would be alarmed.
Altogether, Petrone costs the school $40,504, 200. She used the money that she made off of the stolen items for herself. This includes using it for vehicles, property, and travel expenses, documents state.
Additionally, she filed fake tax forms for three years and never submitted any tax forms from 2017-2020.
Petrone is set to appear in court again on June 29. She has been released on a $1 million bond.
