11.02.21NewsNike
ARTICLE BY Boon
nike shanghai front
via Nike
nike shanghai front
via Nike
nike shanghai front
via Nike

Former Nike Marketing Manager Charged in $1.5 Million Fraud Scheme

Errol Andam, a former marketing manager at Nike, has been charged in connection with a scheme to defraud the company, according to the United States Department of Justice.

The 49-year-old faces charges of wire fraud, money laundering, and making false statements on a loan application. The report states that he was employed by Nike in 2001, before his contract was terminated in 2018. As part of his role, he managed the design, build-out and operation of pop-up retail venues at sports competitions and other events across the states.

According to U.S. Attorney Billy J. Williams, Andam had a friend set up a company to design and build pop-up venues in 2016, using his role as a manager to contract with that company consistently. Andam allegedly assumed control of that company’s financial operations and issued invoices to Nike under an alter ego. He also reportedly directed credit card sales at various pop-up venues to his friend’s company, and through to his own bank account.

Andam allegedly embezzled nearly $1.5 million in Nike proceeds between 2016 and 2018. As a result, he faces a maximum sentence of 30 years in prison, fines of up to $4.5 million, and five years of supervised release if convicted. He will be arraigned on March 5.

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