Former Nike manager pleads guilty to money laundering, fraud
Prosecuted for stealing from his employer and using his authority to rig contracting awards, a former Nike Inc. marketing manager has pleaded guilty to federal charges.
Errol Andam pleaded guilty Monday, April 12, to wire fraud, money laundering and making false statements on a loan application, the U.S. Attorney's Office in Portland announced.
Andam, a Beaverton resident, worked for Nike from 2001 to 2018.
From 2016 through 2018, Andam embezzled nearly $1.5 million from Nike, while using his authority as a marketing manager to ensure that a friend's company — the finances of which Andam controlled — repeatedly received Nike contracts, according to prosecutors.
Andam used his friend's company and a limited liability corporation he set up as a "shell company" to route sales proceeds at Nike "pop-up" venues that he managed into his personal account, prosecutors say.
He also purportedly forged his friend's signature on a check and withdrew nearly $194,000 from his friend's company's bank account without the friend's knowledge, the U.S. Attorney's Office added.
Prosecutors said they will ask for Andam to be sentenced to more than three years in prison. Andam is also expected to pay more than $1.6 million in restitution and forfeit $212,838 in "criminally derived proceeds."
Andam's sentencing is set for July 12.
The case was prosecuted by Ryan W. Bounds, assistant U.S. attorney for the District of Oregon.
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