Krishen Sauble Iyer, 36, was the owner of several insurance businesses in Fresno. According to court documents, he conspired with a marijuana trafficker, known in court papers as S.V., to launder drug proceeds through one of Iyer’s business, Health Shield.

As part of the conspiracy, Iyer would direct the funds back to S.V. to make the drug proceeds appear to be legitimate salary payments.

Iyer issued two Form 1099s to S.V., which claimed that Health Shield paid S.V. $111,952 in 2013 and $164,000 in 2014, even though he never earned all of those funds from the company. S.V. paid Iyer a commission for transferring the funds.

Iyer is scheduled to be sentenced by Judge Dale A. Drozd on April 24. He faces a maximum statutory penalty of 20 years in prison and a $500,000 fine. The actual sentence, however, will be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines, which take into account a number of variables.