Nam Le, 52, could face up to four years in state prison if he doesn’t pay back $100,000 in restitution for helping to launder nearly $20 million in employee payroll.
A San Jose man pleaded no contest Monday to charges that he laundered millions of dollars in payroll for two security companies, one of them run by an ex-SJPD officer currently in jail for exploiting his employees and hiding money from state authorities.
Le will be sentenced next year. Prosecutors said that he was also ordered to pay some $109,000 in restitution, including $60,000 to the state Department of Insurance. If he has paid the full amount by the time of sentencing, he could be sentenced to a year in county jail and six years of probation; if some of the money remains unpaid, he could face four years in prison.
In January 2022, Foster — the former police officer who owned Atlas Private Security — also pleaded no contest to an array of charges accusing him of running the complex fraud scheme, which reportedly exploited mostly minority workers and methodically hid about $18 million from state unemployment and other taxes with the goal of a $1.13 million cashout for the conspirators.
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