Jamie Petrone-Codrington, 42, Monday pled guilty to federal wire fraud and tax charges punishable by up to 23 years in prison
The Yale School of Medicine worker stole $40 million, by ordering thousands of tablet computers in transactions under $10k each over 10 years until anonymous tipster saw her loading them into her car and blew the whistle
Until her arrest last year, Petrone-Codrington from Lithia Springs, Georgia, worked as director of finance and administration at Yale University School of Medicine
Court documents allege that over the course of eight years, Petrone-Codrington stole $40million worth of computers and electronics from the school
Stolen property was sold to a out-of-state company, and Petrone-Codrington used the proceeds to buy four homes and six luxury cars
She also splurged on designer wear and lavish family vacations – documented in her social media posts
She is currently free on $1 million bail pending her sentencing on June 29
A Yale worker was able to steal $40 million from her employer by buying then reselling tablet computers over 10 years – until she was busted by an anonymous tipster who saw her load them into her car.
The former Yale University of Medicine administrator who has been identified as Jamie Petrone-Codrington from Lithia Springs, Georgia was convicted of federal wire fraud and tax charges connected to her years-long scheme, on Monday.
Petrone-Codrington, 42, would place orders for iPads and Microsoft Surface Pros for the college that came in under $10,000. Orders for IT equipment below that amount did not have to be approved by her superiors.
Until her arrest last year, Petrone-Codrington worked as director of finance and administrator at Yale University School of Medicine’s Department of Emergency Medicine, repeated the scam thousands of times over an estimated 10 years, and sold the tablets to an unidentified business in Long Island.
Petrone-Codrington, who admitted wire fraud Monday, was first probed by staff at Yale in June 2020 over her spending on computers.
But that internal investigation did not recommend any action against the scammer, of Lithia Springs in Georgia, and she was allowed to continue with the scheme until July 2021.
Petrone-Codrington, splashed her ill-gotten gains on three mansions, five luxury cars, holidays and designer handbags. She was finally busted by an anonymous tip-off made to Yale bosses about her antics. They passed on the information to the FBI, who arrested the former Yale School of Medicine worker last August.
It is unclear how bosses at the college – famous for its $42.3 billion endowment – missed the industrial-level fraud being carried out by the scammer.
Astonishingly, Petrone-Codrington even applied for a PayPal loan using her work email address, which saw her send over four months of bank statements that detailed her lavish spending.
As part of her job at the Yale University School of Medicine’s Department of Emergency Medicine Petrone-Codrington was authorized to make purchases for her department below $10,000.
Beginning in 2013, Petrone-Codrington ordered, or had her staffers order, millions of dollars in of electronics, including Microsoft Surface Pro tablets and iPads, from Yale vendors using the school’s funds and arranged to ship the goods to an out-of-state business in exchange for money, which she then pocketed, according to documents.
As part of the scheme, Petrone-Codrington falsely represented on Yale internal forms and in emails that the equipment was for Yale Med needs, such as medical studies.
To cover up her crimes, Petrone-Codrington broke up the fraudulent purchases into orders below the $10,000 threshold that would require additional approval.
Court docs say that since January 2021, Petrone-Codrington arranged for the purchase of 8,000 iPads and Surface Pro tablets and between May 2021 and August 20121 she ordered $2.1 million in equipment for the school and on August 24, 2021 she placed an additional $144,000 order.
On May 26, 2021 Petrone-Codrington asked an employee to prepare documentation for an order of 100 Microsoft Surface Pro tablets computers which she claimed were for a new study that would launch that Memorial Day weekend.
The employee prepared 12 purchase orders for eight Surface Pros that totaled just over $9,000 and another purchase for four Surface Pros that came out to just over $4,500, none of which made it to the school’s inventory, according to court documents.
All of those devices that were purchased by Yale were sold and shipped to a business located in New York and when investigators reviewed Petrone-Codrington’s bank records they saw the New York business wired her $71,800.00.
Bank statements from February to May of 2021 show hundreds of thousands of dollars in wire transfers to Petrone-Codrington from businesses that purchased the stolen equipment, court documents said.
While Yale officials notified law enforcement on August 25 2021, the tip that ultimately led to the end of the scheme was received by ‘word of mouth’ sometime over the last year, according to documents.
Court documents state that Petrone-Codrington ordered, or had her staffers order, millions of dollars in of electronics, which she then sold to an out-of-state company for profit.
Court documents do not indicate the exact date Yale officials were alerted, but say that for unspecified ‘various reasons’ the the university ‘was not able to mount a concerted investigative effort’ until about July 1, 2021.
Before she was busted, Petrone-Codrington’s 10 year scheme was used to fund an enviable luxurious lifestyle.
‘In total, Petrone caused a loss of approximately $40,504,200 to Yale,’ the US Attorney’s Office stated. ‘Petrone used the proceeds of the sales of the stolen equipment for various personal expenses, including expensive cars, real estate and travel.’
Specifically, according to court records, Petrone-Codrington used some of her misbegotten funds to purchase 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, a 2020 red Mercedes Benz, a 2016 white Cadillac Escalade and a 2018 Dodge Charger.
Jamyes Codrington, the school financial administrator’s husband of nearly 19 years, displayed the family’s impressive collection of cars on his business’ Instagram page, which also features photos of the couple enjoying dinner at Gucci Garden in Florence, Italy, in July 2021.
However, Jamyes Codrington, 44, has not been charged in connection with his wife’s scheme.
Petrone-Codrington also failed to pay taxes on the tens of millions of dollars she received from selling the stolen equipment.
She filed false federal tax returns for the 2013 through 2016 tax years, in which she falsely claimed as business expenses the costs of the stolen electronics, and failed did not file any federal tax returns for the 2017 through 2020 tax years, costing the US Treasury more than $6.4million.
Petrone-Codrington now faces up to 23 years in prison when she is sentenced for her crimes on June 29, the US Attorney’s Office for the District of Connecticut said in a statement.
As part of the plea agreement, Petrone-Codrington has agreed to forfeit $560,000 that was seized from the Maziv Entertainment’s bank account, along with the six high-end vehicles.
She also has agreed to sell the three homes she owns and co-owns in Naugatuck and Stratford, Connecticut, and use the money to make restitutions to Yale University and the government.
Her home in Lithia Springs, Georgia, is also subject to seizure and liquidation. According to Zillow.com, the five-bedroom, five-bath home has an estimated value of more than $580,000.
Petrone-Codrington is currently free on $1 million bail pending her sentencing.