A former administrator at the Yale University School of Medicine has admitted to stealing $40 million worth of computers and electronic equipment from the institute, which he sold for his lavish lifestyle, including several homes, a fleet of luxury cars and international Holidays included.
Jamie Petrone-Coddington, 42, from Lithia Springs, GeorgiaHe pleaded guilty Monday to federal wire fraud and tax charges related to his years-old scheme.
When he is sentenced for his crimes on June 29, he could face up to 23 years in prison. Connecticut said in a statement.
Starting in 2008, Petrone-Coddington worked in the emergency medicine department of Yale University School of Medicine, according to court documents and statements. He most recently served as the Director of Finance and Administration.
Jamie Petrone-Coddington, 42, an employee of the Yale University School of Medicine, has pleaded guilty to wire fraud and tax charges for stealing $40 million worth of computers that he sold to fund his lavish lifestyle. She is seen in Italy with husband in 2021
Court documents allege that over the course of eight years, Petrone-Coddington used money stolen from school to buy homes, cars and trips. She is pictured during a visit to Florence in July 2021
Until his arrest last year, Petrone-Coddington served as director of finance and administrator at Yale University School of Medicine’s Department of Emergency Medicine.
As part of his job, Petrone-Coddington was authorized to make purchases of less than $10,000 for his department.
Beginning in 2013, Petrone-Coddington used school funds to order millions of dollars worth of electronics, including Microsoft Surface Pro tablets and iPads, from Yale vendors, or order their employees and arrange for goods to be shipped out of state. , Trade for money, which according to the documents was in his pocket.
As part of the plan, Petrone-Coddington falsely represented in Yale’s internal forms and emails that the equipment was for the needs of Yale meds, such as medical studies.
To cover up its crimes, Petrone-Coddington broke down fraudulent purchases into orders below the $10,000 limit, which would require additional approval.
The out-of-state business, which sold electronic equipment to customers, paid Petrone-Coddington by depositing money into the account of her husband’s co-owned photography and video production company, Mazive Entertainment, which she listed as a . Is. principal.
Petrone-Coddington used some of the $40 million to buy a fleet of luxury vehicles, including a 2014 white Mercedes-Benz G550 (right) and a 2020 red Mercedes Benz (left).
Other vehicles purchased by the administrator include the 2017 red Land Rover SV Autobiography (right) and the 2015 black Cadillac Escalade Premium (left).
Patron-Coddington’s husband, Jamies Coddington, who has not been charged, showed off his vehicles on an Instagram page linked to his business
The Instagram page also features other high-end purchases, like this $5,000 Louis Vuitton bag (left) and a pair of ankle boots with a $1,500 price tag (right).
“In total, Petrone caused Yale approximately $40,504,200 in damages,” the US Attorney’s Office said. ‘Patron used the proceeds from the sale of the stolen equipment to finance a variety of personal expenses, including expensive cars, real estate and travel.’
Court documents state that Petrone-Coddington, or its employees, ordered millions of dollars in electronics, which it sold to an out-of-state company for profit.
Notably, according to court records, Petrone-Coddington purchased three homes in Connecticut and one in Georgia, a 2014 white Mercedes-Benz G550, a 2017 red Land Rover SV Autobiography, a 2015 black Cadillac Escalade Premium, something it’s wrong. Funds used. A 2020 red Mercedes Benz, a 2016 white Cadillac Escalade and a 2018 Dodge Charger.
Patron-Coddington’s husband of nearly 19 years, Jameis Coddington, displayed the family’s impressive collection of cars on his business’s Instagram page, with photos of the couple enjoying dinner at the Gucci Gardens in Florence, Italy in July 2021 are also.
Jamis Coddington, 44, has not been charged in connection with his wife’s plan.
Petrone-Coddington also failed to pay taxes on the tens of millions of dollars it received from selling stolen equipment.
She filed false federal tax returns for the 2013 to 2016 tax years, falsely claimed the costs of stolen electronics as a business expense, and failed, any federal tax returns for the 2017 to 2020 tax years. Did not file, which cost the US Treasury. over $6.4 million.
Jamie and Jamies, pictured on their wedding day, have been married for almost 19 years
Petrone-Coddington (left) also defrauded the US Treasury of $6.4 million in unpaid taxes
42-year-old thug used some stolen money to buy this $580,000 home in Lithia Springs, Georgia
Petrone-Coddington has agreed to sell the three homes it owned and co-owns in Connecticut, including this property in Naugatuck, and use the money to make the relocation.
Petrone-Coddington faces up to 23 years in federal prison when sentenced in June
The FBI began investigating Petrone-Coddington in late August 2021 after receiving information from Yale officials and was arrested a week later.
As part of the plea agreement, Petrone-Coddington has agreed to forfeit $560,000 from Mazive Entertainment’s bank account, along with six high-end vehicles.
She has also agreed to sell her three homes and co-owners in Naugatuck and Stratford, Connecticut, and use the funds to transfer to Yale University and the government.
Her home in Lithia Springs, Georgia, is also under confiscation and liquidation. According to Zillow.com, the five-bedroom, five-bath home has an estimated value of over $580,000.
Petrone-Coddington is currently free on $1 million bail pending his sentencing.