Jamie Petrone-Codrington, 42, finance director and chief administrator of the medical school’s department of emergency medicine, used the funds “for various personal expenses, including expensive cars, real estate and travel,” according to a press release from the US Attorney’s Office in Connecticut.
That includes three properties in Connecticut that she owns or co-owns, according to prosecutors.
Petrone-Codrington also filed false tax returns from 2013 to 2016, claiming the cost of the stolen equipment as a business expense, and filed no tax returns from 2017 to 2020. That cost the US Treasury $6 million, according to the press.
Petrone-Codrington, who was arrested in September 2021, has been charged with wire fraud and filing a false tax return. According to court documents, she faces up to 23 years in prison. She is currently out of prison on $1 million bail and is due to be sentenced in June.
Her attorney, Frank Riccio, told CNN his client “accepted responsibility for her actions and repents.”
“She now looks forward to condemning and repairing some of the damage done,” he said.
The court also ordered Petrone-Codrington to pay Yale $40.5 million in damages and more than $6 million to the Internal Revenue Service for failing to file and file a false tax return.
The FBI opened an investigation into Petrone-Codrington in August 2021 after the university provided information, finding that according to the plea, they had been involved in ordering electronic devices such as Microsoft Surface Pro tablet computers with the university’s medical school funds as early as 2013 started. She then sold them to a third-party company, which would repatriate the funds from the electronics sold to Petrone-Codrington through Maziv Entertainment LLC, a company where she is employed, according to the press release.
Over a period of eight years, Petrone-Codrington placed or directed other Yale employees to place thousands of orders for electronics. From May to August 2021 alone, she ordered about $2.1 million worth of computer equipment using Yale funds, according to the original complaint, and law enforcement was still determining how much of those purchases were legitimate.
In a statement provided to law enforcement in August 2021, Petrone-Codrington admitted to running the program for several years and “estimated that about 90% of her computer-related purchases were fraudulent,” according to the FBI.
“The university thanks local law enforcement, the FBI and the US Attorney’s Office for handling the case,” Yale University spokeswoman Karen Peart told CNN. “Since the incident, Yale has worked to identify and address gaps in its internal financial controls.”
Petrone-Codrington was employed by Yale from 1999 but has held the position of senior administrator and director of finance and administration for the university’s department of emergency medicine since September 2019, according to court documents. She has worked for Yale’s Department of Emergency Medicine since 2008.